North Carolina State reports 39.3% gain

North Carolina State Investment Fund Inc., Raleigh, reported a preliminary, unaudited return of 39.3% for the fiscal year ended June 30.

The return well exceeded the fund’s policy benchmark return of 29.2% for the same period, according to a financial report posted on its website.

For the three, five and 10 years ended June 30, the fund reported preliminary annualized returns of 15.1%, 13.8% and 10.5%, respectively, above the respective benchmarks of 12.3%, 11.2% and 8.8%.

The fund returned 2.1% for the fiscal year ended June 30, 2020.

University spokesman Mick Kulikowski would not disclose whether the return was gross or net of fees. Returns by asset class were not provided.

As of June 30, the actual allocation was 25.6% private equity, 14.6% domestic equities, 12.3% long/short equity, 7.3% international equities, 7.2% cash, 6.5% emerging markets equities, 5.8% fixed income, 5.2% diversifying strategies, 5% global equity, 4.5% real estate, 3.2% energy and natural resources, and the rest in private credit.

The $1.6 billion North Carolina State Investment Fund is an investment pool consisting of the assets of North Carolina State University’s endowment fund, its alumni association and seven associated foundations.