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The regional government's minister for endowments and religion, Muhammad Gaznay, publicly denounced it.
However, they underperformed the 21.3percentt return for endowments over $1 billion for the fiscal year that ended June 30.
"Plainsboro needed business ratables, Princeton U. needed income for endowments, and the two just made a very favorable deal".
An investment executive who manages money for endowments says he is comfortable keeping funds at Pimco as long as Mr. Gross is around.
The half reserved for endowments has declined by 14percentt, or about $126 million, to $774 million, according to the Army.
DealBook » Dartmouth Controversy Reflects Quandry for Endowments | The connections of trustees can prove profitable for a university, but they can also create the appearance that the college may have nonfinancial motives for picking investments, Randall Smith reported.
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The need for endowment strength is growing in a weak economy.
"We'll need to raise an equal amount for endowment," Weinberg said.
Growth predictions for endowment policies were once between 7 and 12 per cent.
Harlem Stage plans to raise an additional $5 million for endowment, cash reserves, programs and operating expenses.
As recently as 2009, the school maintains, it ranked first among all American universities for endowment performance.
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