Baylor College of Medicine's endowment, Houston, returned 13.1% for the fiscal year ended June 30, below its 16.1% benchmark, said William Walker, vice president and chief investment officer, in an email.
Mr. Walker declined to provide a breakout of asset class returns.
As of June 30, the $1.17 billion endowment had an asset allocation of 33.2% U.S. public equity, 23.9% non-U.S. public equity, 14.6% real assets, 13.1% private equity, 11.4% fixed income and the remainder in cash.
For the three, five, 10, 15 and 20 years ended June 30, the endowment returned an annualized 5.2%, 9.6%, 5.7% 7.6% and 7.1%, respectively, vs. its benchmark returns of 5.6%, 9.7%, 4.9%, 7.1% and 6.4% in each of those periods.
In fiscal year 2016, the endowment returned -0.9%.
Baylor College of Medicine is an independent medical school in Houston. Its endowment is separate from the Waco, Texas-based Baylor University.