North Carolina State endowment reports 11.8% return for fiscal year

North Carolina State Investment Fund Inc., Raleigh, reported a return of 11.8% for the fiscal year ended June 30.

The return fell below the $1.8 billion investment fund's policy benchmark return of 14.2% for the same period, according to the fund’s website.

For the 10 years ended June 30, the investment fund returned an annualized 9.1%, exceeding its policy benchmark of 7.3%. The fund’s three-year and five-year data were not provided.

The investment fund had returned 1.2% for the fiscal year ended June 30, 2023.

The university did not disclose returns by asset class or actual allocation information.

The investment fund's target allocation is 33% long-biased equities, 22% private equity, 14% fixed income, 12% long/short equity, 6% each diversifying strategies and real estate, 5% energy and natural resources, and 2% cash.

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.