For the three, seven and 10 years ended June 30, the investment pool returned an annualized net 10.1%, 8.5% and 9.4%, respectively, above the respective benchmarks of 4.9%, 6.1% and 7.9%.
The long-term investment pool had returned 36.8% for the fiscal year ended June 30, 2021.
The latest fiscal-year returns for the foundation's investment pool, which includes $2 billion in endowment assets, reflect a challenging return environment for public equities and fixed income during the past year.
The foundation does not provide returns by asset class in its performance report, but the year ended June 30, the Russell 3000 index and Bloomberg U.S. Aggregate Bond index returned -13.9% and -10.3%, respectively, in sharp contrast to returns of 44.2% and 4.6% for the year ended June 30, 2021.
The investment pool likely benefited from holding nearly one-third of its assets in private investments and a very small allocation to fixed income.
As of June 30, the investment pool's actual allocation was 39% global public equities, 28% global private capital, 15% global hedge funds, 13% real assets, and 5% fixed income and cash.
Charlene Laus, the foundation's vice president and chief financial officer, could not be immediately reached for comment.