I sure hope this is nothing more than a difference in starting dates. We all look at Jan to Dec, and I guess the endowments look at July to June. Maybe they should come here for some investment advice, because last yea it seems everyone here did better.
Study Confirms College Endowment Drop
By TAMAR LEWIN
On average, investment returns on college and university endowments declined by 0.3 percent in the last fiscal year, a sharp drop from the average return of 19.2 percent in fiscal 2011, according to a study by the Commonfund Institute and the National Association of College and University Business Officers, known as Nacubo. http://www.nytimes.com/2013/02/01/education/study-confirms-drop-in-college-endowment-returns.html