University of Washington's consolidated endowment fund returned a net -1.6% in the fiscal year ended June 30, 140 basis points below its policy benchmark, said Norman G. Arkans, spokesman for the Seattle-based university, in an e-mail.
The $3 billion consolidated endowment pool’s three-, five-, and 10-year annualized returns ended June 30 were 6.7%, 6.5% and 5.6%, respectively. The three-, five-, and 10-year policy benchmarks were 5.8%, 5.4% and 5.2%, respectively.
For the year ended June 30, the best-performing asset class was opportunistic strategies, which returned 6.4%, followed by private equity, which returned 4.2%, and absolute return, 0.9%. Real assets’ one-year return was flat.
Developed markets equities and emerging markets equities returned -3.8% and -6.3%, respectively.
Target allocations are 28% developed markets equities, 19% absolute return, 17% emerging markets equities, 15% private equity, 11% fixed income, 7% real assets, and 3% opportunistic strategies.
As of June 30, the actual allocation was: 38% developed markets equities, 20% emerging markets equities, 16% absolute return, 12% private equity, 7% fixed income, 6% real assets and the rest in opportunistic strategies.