The month of August was "a tough one for the endowment," state endowment fund investment manager Larry Johnson reported to the state Land Board this morning, with a loss of 4.5 percent for the month, for a total loss for the fiscal year, since July 1, of 5.3 percent. "All of our managers are performing about as you would expect them to in this environment," Johnson said. Distributions from the fund for fiscal year 2012 remain "well secured," Johnson said.