Rice endowment reels in 36% return for fiscal year

Rice University's endowment returned 36% for the fiscal year ended June 30, above its policy benchmark return of 34.4%, said a performance report from Rice Management Co., the investment management firm that oversees the Houston-based school's $8.1 billion endowment.

For the three, five, 10 and 20 years ended June 30, the endowment returned an annualized 13.2%, 13.2%, 10.5% and 9%, respectively, all above their policy benchmarks of 12.4%, 12.4%, 8.2% and 6.2%, respectively, for each of those periods.

The endowment returned -0.7% for the fiscal year ended June 30, 2020.

A university spokesman confirmed in an email Thursday that reported returns are net of fees.

As of June 30 this year, the endowment's asset allocation was 22% public equity, 19% venture capital/private equity, 15% real estate, 12% each opportunistic credit and fixed income/cash, and 10% each hedge funds and natural resources.

Returns by asset class were not disclosed.