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Endowments and Foundations

Duke endowment returns 12.7%

Duke University's endowment returned a net 12.7% in the fiscal year ended June 30, according to a presentation to the Duke University board of trustees over the weekend.

The $7.9 billion endowment is managed by DUMAC, a professionally staffed investment organization controlled by Duke University that is also based in Durham, N.C.

The annualized 10-year return on the long-term pool was 6%, the board of trustees was told. As of June 30, 2016, the 10-year annualized return was 7.1%. Further long-term returns and individual asset class returns were not provided.

At the end of Duke's fiscal year 2016, the endowment had $6.8 billion in the assets and the long-term pool return was -2.6%.

A recently concluded seven-year fundraising campaign raised $3.85 billion from 315,000 donors.

The endowment's long term target allocations are 49% public and private equity; 13% commodities, including direct exposure, related equities and private investments; 13% credit; 11% real estate; 9% U.S. Treasury inflation-protected securities and non-U.S. inflation-linked bonds; and 5% rates.

Calls to the development office were not returned.