University of Chicago's total return investment pool returned a net -1.9% for the fiscal year ended June 30, below its benchmark return of -1.1%, said an announcement on the university's website.
Endowment assets fell by $550 million over the year to $7 billion; $175 million of the decline was attributable to investment performance, the announcement said. Ninety-six percent of the endowment is invested in the total return investment pool.
A breakout of asset class returns was not disclosed. The announcement said global markets had an underwhelming year with weakness in global public equities and commodities.
For the five, 10 and 20 years ended June 30, the total return investment pool returned an annualized 5.7%, 6.3% and 9.6%, respectively, ahead of its benchmark returns of 5%, 5.5% and 7.8% in each of those periods.
Mark Schmid, vice president and chief investment officer, could not immediately be reached for additional information.