The Quaker might not be the toughest mascot on the block (my brothers, both Wolverines, like to constantly remind me of this) but they sure did do some damage to their part-time rivals the Crimson this past year, whipping Harvard’s endowment fund advisors with a healthy can of stocks, Treasuries and private equity investments. In fact, Penn’s endowment fund performed so well that it outdistanced the S&P 500 index.
This doesn’t mean, though, that the suits managing cash on behalf of the Quakers made any money during the 12 months ending June 30; all it means is that they loss less. Penn’s endowment fund lost 16 percent of its value, while the S&P 500 shrunk 26 percent and that “school in Boston”’s fund fell 30 percent.
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