University of Tennessee System's $1.3 billion consolidated investment pool of endowment assets returned a preliminary net 33.4% for the fiscal year ended June 30.
The Knoxville-based system's preliminary return fell well above the investment pool's policy benchmark return of 24.4%, said Rip Mecherle, chief investment officer, in an email.
For the three, five and 10 years ended June 30, also preliminary, the pool returned an annualized 10.3%, 9.8% and 7.3%, respectively, compared with their respective benchmarks of 10.5%, 9.8% and 7.5%.
The investment pool returned a net -2.6% for the fiscal year ended June 30, 2020.
For the most recent fiscal year, the university system has yet to disclose individual asset class returns or their associated benchmarks.
As of June 30, the actual allocation was 47.2% public equities, 18.5% diversifying strategies, 15.5% private equity, 8.4% natural resources, 6.6% fixed income, 2.5% real estate and 1.3% cash.
