Posted on December 21st, 2009 by Kelley Luckstein
A negative 13.4 percent return on investment is hardly something to crow about. But when your peers are faring much worse, you can breathe a little easier.
Macalester College weathered such a return on its endowment fund last year by adhering to its investment policy: Manage for the long term but be mindful of excessive risk…
the same philosophy appears to be at work among many of Minnesota’s biggest nonprofit organizations, which are clawing their way back from a brutal 2008…
At the Mayo Clinic, the largest health care services provider on our list, revenue dropped 10.6 percent to $6.55 billion in 2008. The revenue drop follows jumps of 9.1 percent in 2007 and 9.7 in 2006. Mayo, which has a sizable endowment, also suffered negative returns. Harry Hoffman, Mayo’s treasurer and chief investment officer, said its long-term fund had about $2.7 billion at the beginning of 2008 and finished the year around $2.2 billion, a negative return of nearly 18 percent.
Star Tribune by Patrick Kennedy, 12/20/09
You must be logged-in to the site to post a comment.