University of Colorado Foundation, Denver, returned -2.63% on its long-term investment pool in the fiscal year ended June 30, lagging its custom benchmark return of -1.99%, said a performance report on the foundation’s website.
The $1.3 billion pool, which is managed by Perella Weinberg Partners, includes $1.1 billion in endowment assets.
Volatile market conditions, including the U.K.’s June 23 vote to leave the European Union dragged down the overall return, said Mike Pritchard, vice president and chief financial officer at the foundation in a telephone interview. In July, the pool returned 2.88%.
Mr. Pritchard declined to provide individual asset class returns for the fiscal year. The long-term pool has an asset allocation of 43% private capital, real assets and hedge funds; 6% cash and fixed income; and the remainder, roughly 51%, in public equity.
For the three, five and 10 years ended June 30, the long-term pool returned an annualized 6.28%, 5.92% and 6.11%, respectively, ahead of its custom benchmark returns of 5.7%, 5.45% and 4.56% in those periods.
Mr. Pritchard said the foundation is looking for long-term gains and is pleased with the 6.1% 10-year return, which he said is relatively strong compared to its peers.