KU Endowment Shrinks Amid Stock Market Woes

By: AP
By: AP

LAWRENCE, Kan. (AP) _ You're not the only one noticing less money in your investment portfolio.

The University of Kansas Endowment shrunk over the past year, reflecting the turmoil in the stock market.

The endowment fund reports that it had a market value of $1.22 billion when its fiscal year ended June 30. That was down from the $1.24 billion reported a year ago.

But endowment president Dale Seuferling says the organization transferred $112 million to the university last year. That was an 18 percent increase from the year before and the most ever.

Seuferling says the Endowment is trying to protect its investments and can hopefully ride out the problems until the economy recovers.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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