UVa. Drops $100M More in February
April 2, 2009
The endowment for the University of Virginia (UVa.) has reported a roughly $100 million loss for the month of February.
The fund has dipped from $5.1 billion to $3.76 billion in the past eight months, equaling a 26% drop, according to a report by The Daily Congress.
Despite this, UVa. intends to maintain it current investment scheme. Last month, the University of Virginia Investment Management Company (UVIMCO) placed $600 million of its investment portfolio in cash and government fixed-income. This was reportedly done to prove stable liquidity for the endowment to meet its future obligations.
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