News
By Guv Callahan
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September 17, 2009
The University of Richmond's endowment rebounded during the last six months, increasing in value by approximately 11 to 12 percent, according to university officials.
That rebound followed a roughly 14 percent drop during the fiscal year that ended June 30, 2009, said Srinivas Pulavarti, president of Spider Management Company, the university's investment office.
The endowment's preliminary market value as of August 30, 2009, was approximately $1.5 billion, Pulavarti said.
The endowment comprises approximately 40 percent hedged equities, 6 percent real assets, 30 percent absolute return, 5 percent real estate and 20 percent cash or opportunistic investments, he wrote in an e-mail.
The endowment's good standing is due to investments' high hedged exposure and very little exposure to market risk, Pulavarti said.