University of Michigan's endowment returned 18.8% in the year ended June 30. While returns were fueled largely by public equities (its largest allocation), the end6owment's natural resources and venture capital portfolios posted the highest returns.
Natural resources, which accounts for 8.4% of the endowment's assets, posted a 30.6% return in the year ended June 30. Its venture capital investments, with 12.1% of the asset mix, returned 30.2%.
Seven of its eight asset classes posted double-digit returns for the year, cash being the lone exception.
