Yale's endowment gains 11.5% in latest fiscal year

Yale University's endowment returned 11.5% for the fiscal year ended June 30, bringing the value to $25.6 billion.

For the 10 years ended June 30, Yale's endowment returned an annualized 10%, above broad market results for domestic stocks, which returned 8.2% annually, and domestic bonds, which returned 4.4% annually, said a news release from the New Haven, Conn.-based university.

By asset class, Yale's 10-year annualized returns were venture capital, 18%; international equities, 17.4%; leveraged buyouts, 13.4%; domestic equities, 12.3%; natural resources, 10.5%; absolute return, 7.2%; and real estate, 6.2%.

One-year returns for the individual asset classes were not provided.

The endowment's target asset allocation for the fiscal year started July 1 is 21.5% absolute return; 16% leveraged buyouts; 14.5% international equity; 14% venture capital; 13% real estate; 8.5% each natural resources, and bonds and cash; and 4% domestic equity.

Last year, Yale reported a target asset allocation of 31% private equity, 20% absolute return, 17% real estate, 13% international equity, 8% natural resources, 6% domestic equity, and 5% bonds and cash.

Tom Conroy, a spokesman for the endowment, said the annual report for the year ended June 30 won't be out until later this year.