University endowments posted the lowest investment returns since the 2008 financial crisis, yet schools upped their spending in fiscal 2016, according to a survey released Tuesday by CommonFund and the National Association of College and University Business Officers.
Endowments have been on shaky ground coming out of the recession. Average annual returns have volleyed since plummeting 18.7 percent in 2009. In the 12 months ending June 30, endowments at 805 colleges and universities recorded a negative 1.9 percent return, compared to 2.4 percent growth the prior fiscal year, according to the survey.