For the most recent fiscal year, the pooled endowment fell short of the median return of 4.5% among the 43 college and university endowments whose returns have been tracked by Pensions & Investments as of Nov. 27.
In the annual report, CIO Richard Chau cited the endowment's global equity portfolio as the top-performing asset class for the past fiscal year, noting the return for the asset class of 18.5% was above the MSCI All Country World index's return of 16.5% for the period.
The endowment's private capital asset class, meanwhile, lost 3.5% for the period. Mr. Chau said in the report that "private investments faced a challenging environment with contracting valuations, slower deal pace, and fewer fundraises."
Marketable alternatives, which provides exposure to long/short equity, multistrategy funds, event-driven funds and opportunistic credit, returned a net 6.4%, above its benchmark return of 3.6%, while core fixed income returned -0.3%, above its benchmark return of -1%.
The pooled endowment's target allocation is 35% private capital, 32.5% global equity, 22.5% marketable alternatives, 9% core fixed income and 1% cash.
