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Duke endowment returns 12.9% for fiscal year

Duke University's endowment returned 12.9% in its fiscal year ended June 30, the school reported.

The $8.5 billion long-term pool, which includes the university's endowment assets, is managed by DUMAC Inc., an investment management firm controlled by Duke University.

For the year ended June 30, 2017, the long-term pool returned 12.7%.

Over the past 10 years, DUMAC has been one of the highest-performing university investment managers, recording an average annual return of 6.6%, Duke said in a statement.

According to the endowment website, the long-term targets as of 2017 are 49% public and private equity,13% direct commodity exposure, commodity-related equities, and private investments in energy, power, infrastructure and timber; 11% real estate; 13% credit, 5% rate securities and 9% other, including U.S. TIPS and non-U.S. inflation-linked bonds.

Further details on asset allocation or investment strategies were not disclosed.