Report Places Endowments At 308 Million

The University Endowment Fund, the largest of any educational institution, is listed by a year's end report at 308 million dollars. This figure represents a five-year rise of 104 million dollars, an increase of 50 percent over the five year period.

The now figures were revealed in the annual research report on the fund made by the Putnam Management Company, managers of the George Putnam Fund of Boston, a balanced mutual investment fund.

The five-year report, the period since Paul C. Cabot '21, the University Treasurer, assumed office in 1948, shows that considerably more than half of the endowment fund increase was from "capital appreciation." The balance came from now money, mainly gifts.

"Balance"

The research report suggests that the long-term success of the fund indicates that "a careful balance between fixed securities and common stocks is the most satisfactory, not only in today's high level economy and gradually depreciating dollar, but long periods of time."

The survey indicates that the growth in common stock holdings of the fund is an important factor in the drive to "keep up with the depreciating dollar." Such stock holdings were reported to have risen from 40 percent to 49 percent since 1949.

Other investment distribution for the 1953 year included cash and U.S. governments, 22 percent; other bonds, 22.7 percent; preferred stocks, 5.3 percent; and real estate and mortgages, 1 percent.