October 16, 2003

Health, Education Endowments Studied

By Michael Anft

Investments made by nonprofit health-care organizations outperformed two major stock-market indices last year, while the endowments of colleges and universities earned money as those indices fell, according to two studies released in September.

The studies, conducted by the Commonfund Institute, the nonprofit research arm of Commonfund, a company in Wilton, Conn., that manages money for nonprofit groups, found that:

  • Although their investments lost value over all, the

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