<!-- Swiftype Variables -->

Endowments and Foundations

Texas Permanent School Fund’s returns top benchmark for all periods ended June 30

Texas Permanent School Fund's gross returns exceeded its policy benchmark in all periods ended June 30, an investment report showed.

Performance of the Austin-based $32.5 billion educational endowment was 2.9% in the quarter compared to 2.7% for the benchmark, one year, 12.1% (benchmark, 11.1%); three years, 4.6% (4.1%); five years, 8.3% (7.8%); and 10 years, 5.1% (4.7%).

The school fund's strategic asset allocation as of June 30 was 14% large-cap developed country and large-cap emerging markets equity; 13% each large-cap U.S. equity and private equity; 12% domestic investment-grade fixed income; 10% each hedge funds and real estate; 7% each emerging markets debt and risk parity; 5% small- to midcap U.S. equities; and 3% each emerging markets equity, commodities and Treasury inflation-protected securities, according to the report.