University of Texas System's two endowment funds totaled $25.7 billion as of Dec. 31, up 8.4% from the prior year, showed materials from a Thursday meeting of the board of University of Texas Investment Management Co., Austin.
UT's largest endowment fund, the Permanent University Fund, rose 10.1% to end 2014 with $17.5 billion under management. Assets in the General Endowment Fund increased 5.1% to $8.2 billion as of Dec. 31.
Including operating and short-term investment funds, UTIMCO's assets under management totaled $34.5 billion at year-end 2014, up 8.8% from the prior year.
The combined returns of the two endowment funds in periods ended Dec. 31 were one year, 6.9%; three years, 9.8%; and 10 years, 6.8%. Multiyear returns are annualized.