University of Washington's consolidated endowment fund returned a net 9.6% in the fiscal year ended June 30, said an investment report posted on the Seattle-based university's website.
The $3.4 billion endowment fund's fiscal-year return was above its 7.3% policy benchmark. For the three, five and 10 years ended June 30, the fund returned an annualized net 7%, 8.6% and 5.4%, respectively, compared to their respective benchmarks of 6%, 7% and 5.1%. The fund returned a net 13.6% in the fiscal year ended June 30, 2017.
Among individual asset classes, developed markets equities and emerging markets equities each returned a net 10.4% for the fiscal year ended June 30 and opportunistic strategies returned a net 7.1%. The three asset classes share a benchmark, which returned 10.7% for the fiscal year ended June 30. Absolute-return strategies returned a net 6.5%, above its 4.1% benchmark, and fixed income returned a net 1.4%, above its benchmark of -0.7%. Private equity and real assets returns lagged by one quarter.
As of June 30, the consolidated endowment fund's actual allocation was 34% developed markets equities, 20% emerging markets equities, 18% absolute return, 11% private equity, 10% fixed income, 5% real assets and 2% opportunistic strategies.