Ohio State University’s long-term investment pool returned 14.4% in the fiscal year ended June 30, said Michael Papadakis, interim chief investment officer and the university’s vice president and treasurer.
The fiscal year return for the Columbia-based university is more than two percentage points above its policy benchmark of 12.1%.
Global equity led the university’s asset classes, with a one-year return of 18%, 160 basis points below its 19.6% policy benchmark, followed by private capital at 16.8%, 210 basis points below its 18.9% policy benchmark.
Real assets came in next at 14.4%, nearly doubling its 7.3% policy benchmark and global credit returned 7.5%, more than three percentage points above its 4.1% policy benchmark.
As of June 30, the asset allocation was 44.2% global equity, 24.7% global credit, 17% real assets and 14.1% private capital.
Separately, Mr. Papadakis said that on July 1, the beginning of fiscal year 2015, the investment office eliminated private capital as its own category in the asset allocation. Investments in that category were added to global equity and global credit as appropriate.
The targets are now 60% global equity, 30% global credit and 10% real assets, he said.
The university’s long-term investment pool has about $3.4 billion in assets, which include $2.3 billion in endowment assets.