Saturday, July 4, 2009

UVIMCO Gains in May

The UVA Investment Management Company gained about $154.3M in May, to push the endowment just over $4B. Last year at this time, the endowment was worth over $5B.

UVIMCO will release its Q2 report in about a month. The stock market has been going up lately (until Friday July 3; unemployment figures) basically on the idea of "less bad is better than horrible" (to paraphrase Barry Ritholtz). But the most bearish still expect the market to dip below 8000 if not 7000; and there's that issue of allocation for UVIMCO's funds.

Related Reading:
UVIMCO's Investment Report for May
Missing Billion
25 Years of Conventional Wisdom Down the Drain

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