University of Maine returns 11.4% for fiscal year

University of Maine System’s managed investment pool of six endowments recorded a net return of 11.4 percent in the fiscal year ending June 30, according to an annual report. The return was below the pool’s 12.6 percent policy benchmark.

The pool returned an annualized net 2.7 percent in three years, 7.8 percent in seven years and 4.5 percent in 10 years, respectively. The benchmark returns for the same periods were 4 percent, 7.8 percent and 4.8 percent.

The pool’s assets are now $296.1 million, a $6.1 million increase over the quarter. During the second quarter, there was a $3 million cash outflow of the pool and investment gains of $9.1 million; however, all asset classes were within the university’s policy ranges.

As of June 30, the actual allocation for each asset was 23.3 percent global asset allocation, 18.4 percent domestic large-cap equity, 16.6 percent international equity, 8.7 percent hedge funds, 7.7 percent Treasury inflation-protected secur