Case Western Reserve University's $2.2 billion endowment pool returned a net -5.7% for the fiscal year ended June 30, according to a financial report posted on the Cleveland-based university's website.
The endowment had returned a net 31.8% for the fiscal year ended June 30, 2021.
The report did not provide annualized returns for longer periods, benchmark information or asset class returns for the most recent fiscal year.
The negative return for the most recent fiscal year reflected a challenging market environment in the year ended June 30, particularly within public equities and fixed income. For the year ended June 30, the Russell 3000 index and Bloomberg U.S. Aggregate Bond index returned -13.9% and -10.3%, respectively, in sharp contrast to returns of 44.2% and 4.6% for the year ended June 30, 2021.
Case Western Reserve's return fell just below the median of -4.2% among the 35 university endowments whose returns for the year ended June 30 have been tracked by Pensions & Investments as of Monday.
As of June 30, the actual allocation was 41.2% private equity, 30.8% absolute return, 18.4% public equities, 4.4% fixed income, 2.6% real estate, and 1.3% each other and venture capital.
