Private and community foundation investments gained an average 9.9 percent in fiscal year 2007, a setback from the 13.7 percent return reported the previous year, according to the upcoming annual study by the Commonfund Institute, due out later this month. Foundation investment returns slipped because of the current credit crisis, subprime lending fallout and a slow U.S. economy, said John S. Griswold, executive director of the Institute. “A lot of quantitative strategies suffered during the beginning of the credit crisis that began in earnest in July and August,” but he added that the level of return still “should cover the average foundation’s spending, inflation and… Read More