Two educational endowments managed by University of Texas/Texas A&M Investment Management Co., Austin, posted positive preliminary returns in the fiscal year ended Aug. 31.
A UTIMCO performance report on the company's website showed that the preliminary net return of the $24.4 billion Permanent University Fund was 9.5% for the 12 months ended Aug. 31 and was 9.4% for the $13.9 billion Long Term Fund.
Both funds returned 4.5% as of Aug. 31, 2019.
Net annualized preliminary returns as of Aug. 31 for the Permanent University Fund were 7.7% for three years; 7.8% for five years; and 8% over 10 years.
The Long Term Fund's preliminary net returns as of Aug. 31 were 7.8% for three years, 7.9% for five years; and 8.1% over the 10-year period.
Benchmark performance and individual asset class net returns were not provided in UTIMCO's report.