Virginia Tech Foundation's $1.2 billion consolidated endowment fund returned -5% for the fiscal year ended June 30, according to the Blacksburg, Va.-based foundation's annual report.
The return of the Virginia Polytechnic Institute and State University's fund fell below its policy benchmark return of 1.8%.
For the three, five and 10 years ended June 30, the endowment fund returned an annualized 1.7%, 3.6% and 7.3%, respectively, below the respective benchmarks of 5.4%, 5.6% and 7.6%.
For the fiscal year ended June 30, 2019, the endowment returned 3.4%, below its policy benchmark return of 7%.
Whether the returns were gross or net of fees was not available.