University of Texas Investment Management Co. returned 18% on the investments of its $11.7 billion Permanent University Fund, an endowment fund, ranking it in the bottom fifth of billion-dollar foundation and endowment funds for the year ended June 30, according to data from Russell/Mellon Analytical Services LLC.
The permanent funds three-year annualized return of 14.8% put it near the bottom third of the 42 funds with $1 billion or more as of June 30. The data were included in the Sept. 21 agenda for the UTIMCO board meeting.
UTIMCO manages $23.3 billion in endowment and operating assets for the University of Texas and Texas A&M University systems. H. Scott Caven, UTIMCO chairman, did not return a phone call seeking comment.