Arizona State University Foundation's $1.5 billion endowment returned 4.3% for the fiscal year ended June 30, according to an investment update on its website.
For the three, five and 10 years ended June 30, the endowment returned an annualized 10.1%, 9% and 7.6%, respectively.
The foundation's endowment returned a net 2.4% for the fiscal year ended June 30, 2022.
The investment update did not specify whether returns were gross or net of fees, and benchmark returns were not provided.
For the most recent fiscal year, the endowment's return exceeded the median return of 3.9% for the 18 endowments whose latest fiscal-year returns have been tracked by Pensions & Investments as of Oct. 11.
The investment update did not provide any specific information on the reasons for outperformance, but the foundation likely benefited from allocating nearly one-third of its assets to public equities.
For the year ended June 30, the Russell 3000 index returned 19%, a massive improvement over its return of -13.9% for the year ended June 30, 2022.
As of June 30, the endowment's actual allocation was 32.9% equities, 28.6% private equity, 15.5% diversifying strategies, 13.8% fixed income, 8.8% real assets and 0.4% cash.
Jeffrey Mindlin, chief investment officer of ASU Enterprise Partners, which oversees the Tempe-based foundation, could not be immediately reached for further information.
