University of Missouri System's $1.7 billion endowment pool returned a net 5.7% for the fiscal year ended June 30.
The Columbia-based system's endowment pool return fell short of its 6.4% benchmark return, according to an investment report included with its Nov. 21 board of curators meeting materials.
For the three, five and 10 years ended June 30, the endowment pool returned an annualized net 9.6%, 6% and 9%, above the respective benchmarks of 8.7%, 5.6% and 8.9%.
The endowment pool returned a net 9.4% for the fiscal year ended June 30, 2018.
Among asset classes, private equity led with a net return of 14.4% (above its benchmark of 13%), followed by real estate at 9.7% (above its 6.5% benchmark); risk balanced strategies, 7.8% (8.7%); U.S. Treasuries, 6.8% (7.3%); private debt, 4.6% (4%); public equities, 4.4% (5.9%); inflation-linked bonds, 3.1% (2.9%); and commodities, -8.9% (-6.8%).
The endowment pool's targets are 35% public equities, 15% inflation-linked bonds, 14% U.S. Treasuries, 10% each private equity and risk-balanced portfolio, 8% real estate, 5% commodities and 3% private debt.
Thomas F. Richards, treasurer and chief investment officer, could not be immediately reached to provide further information.
