U of I Not So Well Endowed - NBC Chicago

U of I Not So Well Endowed

Fund loses 30 percent of value



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    Courtesy: athletics.uiuc.edu
    The University of Illinois' endowment fund has lost 30 percent of its value.

    Like the markets, the University of Illinois' endowment fund has dropped nearly 30 percent in value, or about $400 million, since the summer, according to officials.

       In June, the fund was about $1.4 billion and now it sits around $1 billion.
    Doug Beckman is the university's senior associate vice president for business and finance.
    He says university officials are concerned. But he says the loss won't likely cause university officials to change their investment strategy since the endowment is considered more for long-term fundraising.
    The school's three campuses use about 4.75 percent of the endowment fund annually for expense.
    The university's foundation board will meet next month to discuss the loss.