Texas Permanent School Fund, Austin, returned 4.5% in year ended June 30, trailing its benchmark at 5.1%.
However, the fund's performance gained ground in three-, five- and 10-year periods ended June 30.
According to the $26.9 billion educational endowment's most recent performance report, annualized returns were:
- three years, 11.4% (benchmark,11.1%);
- five years, 5.5% (benchmark, 5.3%); and
- 10 years, 7.2% (benchmark, 7.0%).