University of Notre Dame, South Bend, Ind., returned 8.7% on its endowment's investments for the fiscal year ended June 30, said Scott Malpass, chief investment officer.
That compares to the endowment's custom benchmark return of 2.2%. The endowment had $10.5 billion in assets as of June 30, up 7.1% from a year earlier.
In the previous fiscal year, the endowment returned 19.7%.
As of June 30, endowment investments returned 10% over 10 years and 12.3% over 20 years, both annualized. Its custom benchmark returned 5.8% and 7.9%, respectively.
Mr. Malpass said fiscal-year performance was spurred by strong returns in private equity, especially venture capital, emerging markets securities and real estate. He would not provide individual asset class returns.
The endowment's asset allocation was 35% public equity, 27.5% private equity, 15% each real assets and marketable alternatives (event-driven, credit, distressed debt and multistrategy) and 7.5% fixed income.