University of California posts 8.2% return for endowment, 6% for pension fund

University of California, Oakland, saw its $13.4 billion general endowment return a net 8.2% for the fiscal year ended June 30, above its custom policy benchmark of 5.7%, it said.

In addition, the university's $70 billion defined benefit plan returned a net 6% for the same period, compared to its custom benchmark of 5.9%.

The endowment returned an annualized net 10.7% for the three years ended June 30, compared to the custom benchmark's 8.9%; 6.8% for the five-year period (benchmark 5.6%); 9.4% for 10 years (7.8%); and 6.3% for 20 years (5.5%).

The endowment returned 8.9% in the previous fiscal year.

The pension fund's annualized net return for the three years ended June 30 was 9.4%, compared to the benchmark's 8.9%; five years, 6% (5.6%); 10 years, 9.3% (8.7%); and 20 years, 5.7% (5.2%).

The previous fiscal year, the pension fund returned a net 7.8%.

The endowment's asset allocation as of June 30 was 37.2% public equity, 22% absolute return, 14.5% private equity, 11.8% fixed income, 6.9% real estate, 4.3% real assets and 3.3% cash.

The pension plan's allocation was 52.9% public equity, 21.8% fixed income, 6.2% absolute return, 6.1% real estate, 5.8% private equity, 4.9% cash and 2.2% real assets.