University of Virginia's $6.9 billion long-term pool returned 19% in the fiscal year ended June 30.
The total return exceeded the policy benchmark by 240 basis points, said the annual report of the University of Virginia Investment Management Co., Charlottesville, which oversees the long-term pool, including $4.2 billion in endowment assets.
The best-performing asset class was private equity, which returned 35.3% for the year, followed by real asset resources at 27.1%, public equity at 26.8% and real estate, 14.7%.
Other asset class returns were marketable alternatives and credit at 14.6%; long/short equity, 11.3%; government bonds, 0.4%; and cash and currency at 0.1%.
As of June 30, the actual allocation was: 23.2% long/short equity, 22% public equity, 19.9% private equity, 10.9% marketable alternatives and credit, 8.7% government bonds, 7.6% real estate, 4.9% real asset resources, and 2.8% cash and currency.
Lawrence E. Kochard, UVIMCO's CEO and chief investment officer, and Emily K. Grandstaff, university spokeswoman, could not be immediately reached for further information.