UTIMCO endowments return 5% for year

The two educational endowments managed by University of Texas/Texas A&M Investment Management Co., Austin, each returned 5% in the year ended June 30, board meeting minutes show.

The $22.6 billion Permanent University Fund returned an annualized 9.8%, 6.2% and 9% for the three, five and 10 years, respectively, ended June 30, while the $11.5 billion Long Term Fund returned an annualized 10%, 6.4% and 9.1%, respectively, during those same periods.

For the year ended June 30, 2018, the Permanent University Fund returned a net 11.3%, while the Long Term Fund returned a net 11.6%.

The total benchmark performance and individual asset class returns were not provided.

As of June 30, the actual allocation of the endowment funds was 30.2% public equities, 20.6% private equity, 12.6% directional hedge funds, 8.6% investment-grade fixed income, 7.7% private real estate, 7.3% natural resources, 7% stable value hedge funds, 2.1% each cash and infrastructure, 1.6% gold, and 0.1% each credit-related fixed income and public real estate.

The endowments' fiscal year ends Aug. 31.

UT spokeswoman Karen Adler could not be immediately reached to provide further information.