[Guest post by DRJ]
“The University of Texas at Austin endowment has declined by nearly $1 billion this year as a result of the turmoil in worldwide financial markets.
The Permanent University Fund, of which two-thirds is earmarked for UT System campuses and one-third for Texas A&M University System institutions, was worth $13.8 billion at the start of the year. Its value dropped nearly 14 percent to $11.9 billion by the end of September, according to the investment company.”
The financial turmoil is expected to impact construction projects, faculty salaries and scholarships at all UT and Texas A&M campuses.