Lehigh University's $2.2 billion endowment returned a net 10.5% for the fiscal year ended June 30.
The endowment's return fell below the policy benchmark return of 12.6% for the period, according to an investment performance report on the Bethlehem, Pa.-based university's website.
For the three, five and 10 years ended June 30, the endowment returned an annualized net 4.9%, 9.4% and 7.8%, respectively, compared with their respective benchmark returns of 4.5%, 9.1% and 7.8%. Returns by asset class were not provided.
The endowment had returned a net 7.5% for the fiscal year ended June 30, 2023.
For the most recent fiscal year, the endowment's return exceeded the median return of 10% among the 46 college and university endowments whose most recent fiscal-year returns have been tracked by Pensions & Investments as of Nov. 12.
The Lehigh endowment's target allocation is 37% public equities, 30% private equity, 20% absolute return, 8% cash/U.S. Treasuries and 5% real estate.
