Big University Endowments Hampered by Startup Write-Downs.

Big U.S. university endowments are experiencing weak returns due to write-downs in their growth and venture-capital investments, stemming from the bursting of the startup bubble. The Massachusetts Institute of Technology and Duke University reported losses for the fiscal year ending June 30, while Yale and Stanford had modest gains. The overall stock market outperformed these endowments, with the MSCI All Country World Index and the S&P 500 gaining 17.1% and 19.6% respectively. Exposure to China and rising interest rates have also impacted returns. Despite these challenges, large endowments continue to outperform over longer periods due to their diversified investment approach. [Extracted from the article]