University of North Carolina Investment Fund LLC, Chapel Hill, returned 15.7% for the fiscal year ended June 30, exceeding its custom benchmark of 15%.
The investment fund is managed by UNC Management Co., which handles investments for the University of North Carolina at Chapel Hill, University of North Carolina and related institutions, and affiliated foundations.
The current target asset allocation is 27% long-biased equity, 18% long/short equity, 18% private equity, 12% diversifying strategies, 10% fixed income, 8% real estate, and 7% energy and natural resources. Actual allocations and returns on individual asset classes will be reported in the 2014 annual report, which is expected to be released in December.
In its fiscal year 2013 annual report, the fund reported assets of $3.54 billion as of June 30, 2013, and a 12.1% return. That includes the Chapel Hill Investment Fund, the largest of the university's endowments, with $2.34 billion in assets.