Investment returns fell by 50% from 2017 for state and university educators.
Leader Ray Dalio attributes portfolio balance to flagship Pure Alpha fund’s 14.6% returns.
Managers, auditors split on 2019 rate of returns, which are less than the previous two years.
Study of more than 28,000 endowments says ‘wisdom’ of top universities is ‘a myth.’
The star asset class’ 20.2% gains raises Trust’s value to $38.4 billion.
Exchange rates leave a 0.6% performance, despite strong showing in Canadian-denominated returns.
An 8.1% total return sees the institution’s asset growth beat most benchmarks.
Fund has beaten up to 90% of its peers over the past quarter-century.