University of Kansas' $2.2 billion long-term investment program portfolio of endowment assets returned a net 4.5% for the fiscal year ended June 30, said James Clarke, senior vice president of investments and treasurer at KU Endowment, a nonprofit organization that oversees the endowment for the university.
The Lawrence-based university's return fell below its relative objective of 11.6% for the period, according to a performance report on its website.
For the three, five and 10 years ended June 30, the LTIP returned an annualized net 11.7%, 8.1% and 7.9%, respectively, above the respective relative objectives of 9.1%, 5.8% and 6.4%.
The investment pool had returned a net -2.8% for the fiscal year ended June 30, 2022.
The latest fiscal year's improved performance primarily benefited from "remaining fully invested in public equities, significantly underweighting fixed income and overweighting cash," Clarke said.