Endowment up at Brown University

PROVIDENCE, R.I. – The endowment at Brown University gained roughly 10 percent of its value during fiscal year 2010, ending the year at just under $2.2 billion.

That was an improvement over 2009, when Brown's endowment fell by 23 percent. The increase was smaller than the average investment return for endowments, according to a recent study of 80 U.S. colleges and universities.

The report from the National Association of College and University Business officers found that average investment return for college endowments was just under 13 percent.

Mid-size endowments tended to fare better in 2010 than those worth more than $1 billion.

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