University of California endowment has lost $1 billion in 2008

The University of California endowment lost $1 billion in the first nine months of 2008, with $700 million of the loss coming in the latest quarter. The general endowment pool managed by the UC Board of Regents stood at $5.7 billion as of Sept. 30 - down from the $6.7 billion as of Dec. 31.

To read The San Francisco Chronicle article, click here.