{"id":1656,"date":"2025-02-24T16:35:01","date_gmt":"2025-02-24T21:35:01","guid":{"rendered":"https:\/\/www.rochester.edu\/endowment\/?page_id=1656"},"modified":"2025-02-27T13:13:22","modified_gmt":"2025-02-27T18:13:22","slug":"fiscal-2022-report","status":"publish","type":"page","link":"https:\/\/www.rochester.edu\/endowment\/fiscal-2022-report\/","title":{"rendered":"Fiscal 2022 Report"},"content":{"rendered":"

Report on Investment Performance for the fiscal year ending June 30, 2022<\/strong><\/h2>\n

On June 30, 2022, the market value of the Ä¢¹½´«Ã½\u2019s Long Term Investment Pool (\u201cLTIP\u201d) was $3.2 billion.\u00a0 Performance for the fiscal year was -11.6%, net of all fees and expenses, compared with the benchmark return of -13.3%.\u00a0 Performance of the LTIP exceeded the benchmark for three, five, and ten years, and was approximately 9% net annualized for those periods.<\/p>\n

The table below shows the LTIP\u2019s June 30, 2022 allocations compared to targets for calendar year 2022.<\/p>\n

\"\"<\/p>\n

The\u00a0LTIP\u2019s\u00a063% alternative investment allocation, consisting of hedge funds and private equity and real asset partnerships,\u00a0outperformed the LTIP and its benchmark\u00a0for all periods.\u00a0 For the fiscal year,\u00a0private equity (including venture capital)\u00a0returned\u00a0-8.9%. \u00a0The real assets portfolio\u00a0returned\u00a0+13.7%. \u00a0The hedge fund portfolio returned\u00a0-14.8%. \u00a0Volatility\u00a0of return for the alternatives program was\u00a06.5%\u00a0annualized\u00a0for\u00a0the ten years ending\u00a0June 30, 2022. \u00a0This compares\u00a0to ten-year volatility of 6.9% for the LTIP\u00a0and\u00a010.8% for the LTIP benchmark.<\/p>\n

The publicly-traded equity portfolio returned -18.3% for the fiscal year, below the -15.8% return for the ACWI benchmark. \u00a0Underperformance resulted mainly from the Opportunistic (mostly U.S.-focused, concentrated) portfolio. \u00a0The fixed income and cash portfolio returned -4.1% for the fiscal year, compared to the -3.6% return for the benchmark BB Gov\u2019t\/Credit 1-3 Year Index.<\/p>\n

The LTIP has ample liquidity, with approximately 47% of its value convertible into cash within one year.<\/p>\n

The sources of return for the fiscal year, in descending order by contribution, are shown in the chart below (figures may not foot due to rounding).<\/p>\n

\"\"<\/p>\n

\n
\n

Investment Reports for Previous Years<\/a><\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Report on Investment Performance for the fiscal year ending June 30, 2022 On June 30, 2022, the market value of the Ä¢¹½´«Ã½\u2019s Long Term Investment Pool (\u201cLTIP\u201d) was…<\/p>\n","protected":false},"author":36,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-1656","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nFiscal 2022 Report - Endowment<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rochester.edu\/endowment\/fiscal-2022-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fiscal 2022 Report - Endowment\" \/>\n<meta property=\"og:description\" content=\"Report on Investment Performance for the fiscal year ending June 30, 2022 On June 30, 2022, the market value of the Ä¢¹½´«Ã½\u2019s Long Term Investment Pool (\u201cLTIP\u201d) was…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rochester.edu\/endowment\/fiscal-2022-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Endowment\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T18:13:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rochester.edu\/endowment\/wp-content\/uploads\/2025\/02\/chart-1-2022.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"759\" \/>\n\t<meta property=\"og:image:height\" content=\"490\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.rochester.edu\\\/endowment\\\/fiscal-2022-report\\\/\",\"url\":\"https:\\\/\\\/www.rochester.edu\\\/endowment\\\/fiscal-2022-report\\\/\",\"name\":\"Fiscal 2022 Report - 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