University of Washington posts 1.1% fiscal-year return

University of Washington's consolidated endowment fund returned a net 1.1% for the fiscal year ended June 30, Victor Balta, university spokesman, confirmed.

The $3.6 billion endowment fund's return fell short of its 4.2% policy benchmark, according to an investment report included with the Seattle university's Oct. 8 board of regents meeting materials.

For the three, five and 10 years ended June 30, the CEF returned an annualized net 5.4%, 5.5% and 7.8%, respectively, compared with the respective benchmarks of 5.9%, 5.7% and 7.4%.

The consolidated endowment fund returned a net 5.8% for the fiscal year ended June 30, 2019.

Fixed income was the best performing asset class, returning a net 3.7% (below its 7% benchmark), followed by developed markets equity at a net 1.3%; absolute return at 0.6%; emerging markets equities, -0.5%; and opportunistic credit, -11.8%.

Developed markets equities, emerging markets equities and opportunistic credit share a common benchmark under capital appreciation, which had a benchmark return of 2.1%.

Private equity and real assets returns lagged by a quarter.

As of June 30, the actual allocation was: 32% developed markets equities; 18% each, absolute return and emerging markets equities; 15% private equity; 10% fixed income; 4% real assets and the rest in opportunistic credit.

University spokesman Victor Balta could not be immediately reached for further information.