Foundation Investments Grew by Nearly 10% in ’07

According to The Chronicle of Philanthropy,

Despite a slowing economy, American foundations reported an average annual return on investments of 9.9 percent for 2007, a rate that was down from the year before but higher than the average of what foundations said they had hoped to achieve, according to a new report by the Commonfund Institute.

John S. Griswold Jr., the institute’s executive director, said the volatility of the market had less effect on 2007 returns than expected, especially for foundations that used alternative investments and had diverse portfolios with varying levels of risk.