$1-billion investment loss at uToronto

April 1, 2009

The University of Toronto reported Tuesday that it lost $1.3 billion on its investments last year. The university has already suspended payouts from endowment funds, which were expected to generate $62 million this year. The 29.5% investment devaluation reflects the fund's large exposure to the equity markets, hedge fund investments, and its current hedging policy. Globe and Mail