Pennsylvania State University's endowment lost 0.8% in the year ended June 30, according to a report Friday by the State College-based school.
Penn State's annualized 7.7% return for the 20 years through June 30 “continues to sustain generous program support (endowment spending), thus maintaining intergenerational equity,” John Pomeroy, Penn State's chief investment officer, said in the report. It returned 6.3% for the 10 years ended June 30.
Penn State didn't disclose how individual strategies performed. The largest asset allocation of the long-term portfolio, at 47%, is in U.S. and international public equities. The allocation declined from 53% a year prior. The school also increased its allocation to fixed income and cash at 20%, up from 14%.
Other strategies remained constant, including 22% in private equity and venture capital; 7% in hedged strategies and 3% in real assets. The endowment had $2.35 billion in assets as of June 30.