University of Utah's $1.7 billion endowment pool returned 10% for the fiscal year ended June 30.
The return beat its target benchmark of 9.1% for the period, according to a fiscal year-end summary on the Salt Lake City-based university's website.
For the three, five and 10 years ended June 30, the endowment pool returned an annualized 2.7%, 7.2% and 5.9%, respectively, compared with the respective benchmarks of 2.6%, 5.9% and 5.8%.
The endowment pool had returned 5.9% for the fiscal year ended June 30, 2023.
For the most recent fiscal year, the endowment pool's return was just above the median return of 9.8% among the 36 college and university endowments whose returns for the period have been tracked by Pensions & Investments as of Oct. 30.
The endowment's top-performing asset class was global equity, which returned 18.4% for the fiscal year, followed by alternative credit, which returned 11.9%; diversifying strategies, 10.5%; private equity, 7.8%; private real assets, 5.8%; fixed income, 4.4%; and venture capital, 3.9%.
The summary did not provide benchmark returns and did not specify whether returns were gross or net of fees.
As of June 30, the endowment pool's actual allocation was 30% global equity, 24% diversifying strategies, 12% private equity, 11% global fixed income, 10% cash investments, 8% private real assets and 5% private credit.
The target allocation is 30% private equity, 25% global public equities, 18% diversifying strategies, 12% real assets, 10% global fixed income and 5% private credit.
