Duke University's endowment returned 4.4% for the fiscal year ended June 30, vs. 20.2% in fiscal year 2014, said a statement released Monday.
DUMAC, Durham, N.C., which manages Duke University's $7.3 billion endowment and other long-term investment assets, returned an annualized 9.4% over the past 10 years.
In the most recent fiscal year, support from the endowment and other investments managed by DUMAC accounted for approximately 16% of the university's total operating revenue.
Individual asset class returns were not available, and DUMAC officials declined to comment. According to the endowment website, the target allocations are 49% public and private equity; 13% each commodities and credit; 11% real estate; 9% other, which includes areas such as U.S. Treasury inflation-protected securities and non-U.S. inflation-linked bonds; and 5% public obligations, such as Treasuries.