Rice University's endowment returned a net -0.7% for the fiscal year ended June 30, below its policy benchmark return of 1%, said a performance report from Rice Management Co., the investment management company that oversees the Houston-based school's $6.2 billion endowment.
For the three, five, 10 and 20 years ended June 30, the endowment returned an annualized 6.3%, 6.5%, 9.3% and 7.3%, respectively, exceeding its policy benchmarks of 5.9%, 4.9%, 7.1% and 4%, respectively, in each of those periods.
The endowment returned 7.6% in the previous fiscal year.
As of June 30, the endowment had an asset allocation of 22% publicly traded equities, 19% venture capital/private equity, 15% real estate, 12% each opportunistic credit and fixed income/cash, 10% hedge funds, 9% natural resources and 1% timber.
A breakout of returns by asset class was not disclosed.
A university spokesman could not immediately be reached for additional information.