Northwestern University logs 7.1% return for fiscal year

Northwestern University's long-term balanced pool of endowment assets returned a net 7.1% for the fiscal year ended Aug. 31.

The $11.1 billion pool's performance fell slightly behind its composite benchmark return of 7.2%, according to the Evanston, Ill.-based university's annual financial report.

For the three, five and 10 years ended Aug. 31, the pool returned an annualized net 6.6%, 6.6% and 8.6%, respectively, compared to their respective benchmarks of 7.6%, 7.8% and 8.5%.

The university's pool of endowment assets returned a net 2.5% for the fiscal year ended Aug. 31, 2019.

The report did not provide specific asset class return and benchmark information, but it noted that performance was driven by strong returns in equities, private equity and venture capital, while "real assets detracted due to a challenging environment for natural resources."

As of Aug. 31, the actual allocation for the long-term balanced pool was 28.2% private investments, 17.1% international equities, 17% absolute return, 14.1% real assets, 13.7% domestic equities, 7.4% fixed income, 2.2% high-yield credit and 0.3% cash.

The target allocation is 24% private investments, 19% absolute return, 17% international equities, 15% real assets, 12% domestic equities, 8% fixed income and 5% high-yield credit.

University spokeswoman Jeri Ward could not be immediately reached for further information.