University of Texas’ two large endowment funds produced positive returns in all periods ended June 30, said a report from endowment manager University of Texas Investment Management Co.
Austin-based UTIMCO managed $35.9 billion total as of June 30, of which $25.182 billion was from the endowments. The balance of assets managed was from health-care and operating funds.
UT’s Permanent University Fund totaled $17.843 billion as of June 30. As of the same date, the fund returned 0.7% for the three-month period; year-to-date, 3.4%; one year, 3.3%; three years, 9.4%; five years, 9.3%; and 10 years, 6.7%.
The General Endowment Fund, which invests the $7.339 billion UT Long Term Fund and the $1.1 billion Permanent Health Fund, returned 0.8% for the quarter ended June 30; year-to-date, 3.5%; one year, 4.1%; three years, 9.6%; five years, 9.4%; and 10 years, 6.8%.
Multiyear returns are annualized.
UTIMCO’s latest financial report didn’t provide returns of the funds’ benchmarks, but it noted that over the 10 years ended June 30, performance of the Permanent University Fund added $2.4 billion to the endowment and performance of the General Endowment Fund added $1.4 billion.
The Permanent University Fund’s asset allocation as of June 30 was 46.5% developed country equity, 15.5% emerging markets equity, 13.8% natural resources, 9.2% investment-grade fixed income, 8.2% credit-related fixed income and 6.8% real estate.