This session provides an overview of the results of the 2025 NACUBO-Commonfund Study of Endowments, the most comprehensive analysis of endowment investment returns, asset allocations, and governance policies and practices at U.S. higher education institutions and affiliated foundations.
The 2025 NACUBO-Commonfund Study of Endowments is expected to show that college and university endowments posted overall positive returns in fiscal year 2025. However, returns varied greatly by endowment size, institution type, and other dimensions. In addition, the prospect for continuing changes to higher education policy at the federal level, along with growing needs to increase spending from endowments to support student financial aid and other important purposes, will likely bring even more pressure to postsecondary institutions. The returns also come as campus leaders are facing rising inflation and increasing calls for controlling college costs.
College and university chief investment officers and other panelists will look back at the investment returns, asset allocations, and other factors that influenced performance in FY25. Panelists will address the challenges of the financial market conditions they are facing in 2026 and beyond.