University of Oregon Foundation's $1.5 billion endowment portfolio posted a net return of 2.5% for the fiscal year ended June 30.
The Eugene, Ore.-based foundation's return fell short of its 60/40 benchmark return of 9.4% for the period, according to a performance report on its website.
For three, five and 10 years ended June 30, the endowment portfolio returned an annualized net 9.2%, 6.7% and 7.7%, respectively, above the respective benchmarks of 5%, 5.5% and 6.1%.
The return for the fiscal year ended June 30, 2022, was not available on the foundation's website.
For the most recent fiscal year, the endowment portfolio's return fell short of the median return of 4.45% among the 46 college and university endowments whose returns have been tracked by Pensions & Investments as of Dec. 5.
The report did not provide return information for individual asset classes. Other endowments have reported low returns for private equity and particularly venture capital for the period due to lower valuations resulting from negative public equity returns in the prior fiscal year.
As of June 30, the endowment portfolio reported an actual allocation of 33.7% to private equity/venture capital, which likely contributed to the portfolio underperforming the P&I median return.
The rest of the actual allocation as of that date was 22.4% public equity, 17.6% hedge funds, 14.1% fixed income, 6.9% real assets and 5.3% cash and other assets.
Jasper Ridge Partners has been the foundation's first outsourced chief investment officer since July 1, 2021.
