Virginia Tech Foundation Inc.'s $1.7 billion consolidated endowment fund returned -4.1% for the fiscal year ended June 30, according to a report included with materials for the Blacksburg, Va.-based university's upcoming Aug. 23 board of visitors meeting.
The endowment fund's return well exceeded its benchmark return of -15.7% for the period, according to the report.
For the three, five and 10 years ended June 30, the endowment fund returned an annualized 4.5%, 4.8% and 7.5%, respectively, above their respective benchmarks of 2.5%, 4.4% and 6.3%.
The endowment fund had returned more than 27% for the fiscal year ended June 30, 2021.
The presentation did not disclose whether the returns were gross or net of fees.