University of Missouri System's $2.1 billion endowment pool returned a net -0.8% for the fiscal year ended June 30.
The Columbia-based university endowment's return exceeded its policy benchmark return of -2.4% for the same period, according to a performance report included with materials for the system's upcoming Sept. 7 board of curators meeting.
For the three, five and 10 years ended June 30, the endowment returned an annualized net 9.2%, 8.5% and 8.6%, respectively, above the respective benchmarks of 8%, 7.8% and 8.1%.
The endowment pool returned a net 29.6% for the fiscal year ended June 30, 2021.
For the most recent fiscal year, which saw public equities and fixed-income both post negative returns, the endowment pool benefited from significant exposure to private equity, commodities, real estate and private debt, which accounted for more than 32% of the pool's total assets.
For the most recent fiscal year, real estate was the top performer with a net return of 28.2% (above its benchmark return of 27.3%), followed by commodities with a net return of 28.5% (above its 24.3% benchmark) and real estate with a net return of 28.2% (above its 27.3% benchmark).
Those were followed by private debt, which returned a net 22.5% (2.9%); inflation-linked bonds at a net -0.2% (-2%); U.S. Treasuries, -3.7% (-6.4%); risk balanced assets, -12% (-12%); and public equities, -20.5% (-15.8%).
As of June 30, the endowment pool's actual allocation was 34.3% public equities, 13.4% private equity, 12.3% risk balanced assets, 10.3% U.S. Treasuries, 10% inflation-linked bonds, 8.5% real estate, 5.7% private debt, 4.9% commodities and 0.6% cash/other.
