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September 27, 2017 01:00 AM

University of Houston Foundation chalks up 16.06% return

Meaghan Offerman
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    University of Houston Foundation returned a net 16.06% on its approximately $129 million endowment for the year ended June 30, topping its 10.87% benchmark, said a performance report provided by Erik P. Littlejohn, senior vice president, wealth management, at Merrill Lynch, Pierce, Fenner & Smith, investment consultant to the foundation.

    By asset class, domestic equities returned 21.01% (vs. its 17.9% benchmark); global balanced (unconstrained domestic and foreign stocks, bonds, gold or gold-related securities and cash/cash equivalents), 13.4% (10.87%); global long/short equity hedge funds, 12.88% (3.66%); and total return fixed income, 9.61% (-0.13%).

    The global long/short equity hedge fund allocation was added to the portfolio on Dec. 1, 2016. The return for that allocation corresponds to the return since inception through June 30.


    Compare returns of school endowments with P&I's Endowment Returns Tracker

    As of June 30, the endowment had an asset allocation of 43% U.S. equities, 39% global balanced portfolio, 10% total return fixed income and 8% global long/short equity hedge funds.

    For the three, five and 10 years ended June 30, the endowment returned an annualized 6.89%, 11.84%, and 7.74%, respectively, surpassing its benchmark returns of 6.75%, 9.64%, and 6.09% in each of those periods.

    The endowment's fiscal year ended Aug. 31, and it reported a 12.15% return, topping the 10.05% benchmark.

    For the three, five and 10 years ended Aug. 31, the endowment returned an annualized 6.85%, 11.1%, and 7.72%, respectively, vs. it benchmark returns of 4.99%, 7.94% and 4.83% in each of those periods.

    The foundation's endowment is separate from the University of Houston System's $572 million endowment.

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