The endowment fund had returned a net -5.5% for the fiscal year ended June 30, 2022.
The latest fiscal year's improved performance likely benefited from stronger market returns for the period in both equities and fixed income. For the year ended June 30, the Russell 3000 and Bloomberg U.S. Aggregate Bond index returned 19% and -0.2%, respectively, well above their respective returns of -13.9% and -10.3% for the year ended June 30, 2022.
The investment report did not provide returns by asset class.
As of June 30, the endowment fund's actual allocation was 39% developed markets equities, 18% each absolute return and private equity, 12% emerging markets equities, 7% fixed income, 4% real assets and the rest in opportunistic investments.
The target allocation is 30% developed markets equities, 19% private equity, 17% each absolute return and emerging markets equities, 9% fixed income, 5% real assets and 3% opportunistic investments.