Stanford Management Co. reported Wednesday its endowment and other merged investment pools returned -0.4% for the 12 months ended June 30, compared to the benchmark return of -0.6%, said a news release from the Palo Alto, Calif.-based Stanford University.
It is the merged pool's first negative return since the year ended June 30, 2009.
The value of the university's endowment rose by 0.8% to $22.4 billion for the fiscal year ended Aug. 31, shows the release.
Stanford did not break down returns by asset class.
The endowment posted a 10.7% annualized return for the 20-year period ended June 30, outpacing its benchmark by 1.9 percentage points.
For the 12 months ended June 30, 2015, the endowment and merged investment pools returned a net 7%.
The Stanford Management Co. has been led by Robert Wallace since March 2015, who after taking over replaced many of the university investment arm's staff.