Lehigh University's $2 billion endowment returned a net 7.5% for the fiscal year ended June 30.
The endowment's return fell below the policy benchmark return of 8.6% 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 12%, 8.8% and 8.1%, respectively, compared with their respective benchmark returns of 9.7%, 7.9% and 8.2%. Returns by asset class were not provided.
The endowment had returned a net -2.7% for the fiscal year ended June 30, 2022.
For the most recent fiscal year, the endowment's return is the fifth-highest among the 36 college and university endowments whose most recent fiscal-year returns have been tracked by Pensions & Investments as of Nov. 1. The median return in the universe is 4.6%.
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.