Endowment funds set growth record

Wall Street's bull market has left its hoof prints on the endowment funds of the nation's colleges and universities. Total return on investments in the 12 months ending last June 30 was a record-setting 42.2 percent, according to a preliminary report by the National Association of College and University Business Officers. The next-highest average in the 10 years such records have been kept was 14.6 percent, two years ago.