University of Texas System's largest endowment, the $17.4 billion Permanent University Fund, returned 15.1% in the fiscal year ended Aug. 31, documents for the Thursday meeting of the board of trustees of University of Texas Investment Management Co., Austin, show.
The Permanent University Fund's 2014 fiscal-year return was 630 basis points greater than the 2013 fiscal-year return. Assets managed in the permanent fund were up 16.8% in the year ended Aug. 31.
Annualized returns as of Aug. 31 for the fund were 8.9% for three years; 10.9%, five years; and 7.9% for 10 years.
Assets managed in UT's $8.3 billion General Endowment Fund were up 12.2% in the year ended Aug. 31. That fund returned 14.7% in the most recent fiscal year, up 570 basis points from the year earlier.
Annualized returns of the general fund as of Aug. 31 were three years, 8.9%; five years, 10.9%; and 10 years, 8%.
UTIMCO managed a total of $34.7 billion as of June 30 for the University of Texas System and Texas A&M University, with $25.7 billion managed in the two endowment funds and the balance managed in operating funds.
