The Role of Endowments in Financial Markets: Key Trends in 1990-2020 in the USA (on the example of the US education sector)

This article describes the key trends in development of endowments as institutional investors using example US educational 1990-2020. The paper also gives an overview world structure assets by regions and sectors. Although much research has been done on investment behaviour return endowments, there are not so many works analysing long-term endowments. study uses methods systemic comparative analysis statistical methods. demonstrates intensive growth endowment during 1990-2000 following maturing market. Special attention is given to identifying changes concentration levels endowment's author suggests that earlier model different-sized funds changed where significant dominate concentrate most assets. explains including how size influences asset funds' portfolios return. shows growing role state universities increase regulatory burden. Also, it presents some forecast long run.