Drop in UC Endowments Follows National Trend





  • Printer Friendly Printer Friendly
  • Comments Comments (0)

The University of California was no exception to a nationwide drop in endowment values, seeing a 20 percent devaluation in the Board of Regents' General Endowment Pool, according to a report published last week.

The dire economy has affected university endowments throughout the nation, which averaged a loss of 18.7 percent in the last fiscal year, according to a study by the National Association of College and University Business Officers and Commonfund Institute.

UC Berkeley's endowment saw a 16 percent drop in the last fiscal year, according to the report. The University of California, Berkeley Foundation, the campus endowment, dropped from $907 million for the 2007-08 fiscal year to $759 million in fiscal year 2008-09.

Systemwide, the UC's systemwide endowment fund saw a more severe drop, from $9.6 billion in the 2007-08 fiscal year to $7.8 billion in the 2008-09 fiscal year, according to UC spokesperson Ricardo Vazquez. But he added that financial markets have improved since the fiscal year ended in June, and the endowment is now over $8 billion.

The UC systemwide endowment includes both the regents' general endowment pool and the 10 individual campus pools.

Larger endowments such as Harvard University's $36.5 billion endowment-which fell to approximately $25 billion-saw larger drops due to a dependence on economically volatile hedge funds, according to the report.

UC Berkeley's endowment saw a less severe drop due to its smaller size, though it has grown in recent years since being founded in 1948, according to campus spokesperson Jose Rodriguez.

"Compared to say Harvard or Yale that have had a long history of large endowments, Berkeley is still relatively young," he said.


Javier Panzar covers higher education.Contact him at [email protected]



Comments (0) »

Comment Policy
The Daily Cal encourages readers to voice their opinions respectfully in regards to both the readers and writers of The Daily Californian. Comments are not pre-moderated, but may be removed if deemed to be in violation of this policy. Comments should remain on topic, concerning the article or blog post to which they are connected. Brevity is encouraged. Posting under a pseudonym is discouraged, but permitted. Click here to read the full comment policy.
White space
Left Arrow
Higher Education
Image Student regent resigns after sex crime allegations
Jesse Cheng officially announced his resignation from his positio...Read More»
Higher Education
Image UC spared additional cuts in budget revision
While the University of California escaped further funding reductions M...Read More»
Higher Education
Image UC Board of Regents wary of unreliable state funds
SAN FRANCISCO - Following the release of Gov. Jerry Brown's revis...Read More»
Higher Education
Image UC Student Regent Jesse Cheng announces his resign...
Former UC Student Regent Jesse Cheng announced in an open le...Read More»
Higher Education
Image Reform caucus sweeps executive positions in electi...
A little more than five months after a contentious contract rat...Read More»
Right Arrow




Job Postings

White Space