Rice endowment decreases $60 million
As the Wall Street collapse earlier this month indicated, times are tough for investments. Reflecting this trend, Rice's endowment this year has decreased $60 million from $4.67 billion to $4.61 billion. Nationally, Rice ranks 19th for the size of its endowment, and ranks sixth in amount per student according to the National Association of College and University Business Officers Endowment Study. The endowment is a permanent investment that the university uses to support the general operation of the school, faculty chairs, scholarships, fellowships and departmental programs. The endowment is invested in U.S. stocks, international stocks, fixed income, hedge funds, private equity and real assents - which include real estate, oil and timber. It is invested with over 100 different investment managers and partnerships around the world.