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University of North Carolina’s endowment posts 2% decline

Morehead-Patterson Bell Tower UNC

The University of North Carolina at Chapel Hill's endowment lost 2% in fiscal 2016, a year in which many endowments are expected to post investment losses.

The Chapel Hill Foundation Investment Fund Inc.'s money is managed through the UNC Investment Fund, which had the same decline. The UNC Investment Fund manages funds for other schools in the UNC system and affiliated endowments. After investment returns, donations and withdrawals, both funds declined in value in the year ended June 30, said Janine Vanzetta Burke, director of investor relations for UNC Management Co., based in Chapel Hill, N.C.

The umbrella fund is valued at $4.5 billion, down from $4.6 billion the previous year. Chapel Hill's fund is $2.8 billion, a decline from $2.9 billion. The 10-year annualized return for both funds is 6.5%, according to a performance update posted Tuesday on the school's website.

UNC investment fund's largest target allocation was 27% in long-biased equity, followed by 18% each in long/short equity and private equity, according to the website. UNC Management declined to comment further.