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Endowments and Foundations

University of Missouri endowment returns 13.7%, tops benchmark by 280 basis points

Jesse Hall Dome on the University of Missouri campus, Columbia

University of Missouri System's $1.5 billion endowment pool returned a net 13.7% in the fiscal year ended June 30, said Thomas Richards, treasurer and chief investment officer of the Columbia-based university system, in an e-mail.

The return exceeded the policy benchmark of 10.9%. The best-performing asset class was global equity, which returned a net 21.5% in the fiscal year ended June 30, exceeding its 18.1% benchmark, followed by private equity, at 15.6%, above its 12.5% benchmark.

Next came opportunistic debt, which returned 8.6% (below its 8.8% benchmark); real estate, 10.6% (7.4%); emerging markets debt, 7.4% (4.8%); hedge funds, 5.5% (4.2%); risk parity, 5.5% (5.2%); inflation-linked fixed income, -1% (-0.1%); and commodities, -7.7% (-8.1%).

The endowment pool's annualized net returns for the three, five and 10 years ended June 30 were 5%, 8.7% and 4.4%, compared to their respective benchmarks of 4.3%, 8.4% and 4.8%. The endowment pool returned a net -0.2% in the fiscal year ended June 30, 2016.

Actual asset allocation information was not immediately available.