University of Richmond endowment posts 6.9 percent return for fiscal year
The University of Richmond’s endowment, with $3.3 billion of assets under management, posted a net return of 6.9 percent for the fiscal year that ended on June 30, below its benchmark of 13.4 percent.
Of the endowment’s portfolio, 2 percent is allocated toward real estate and agriculture, which collectively posted a loss 2.3 percent for the fiscal year.
Real assets returned 2.1 percent, lower than the asset class’s 13.7 a percent return in the 2022 fiscal year.
The 6.9 percent return for the University of Richmond during the 2023 fiscal year is an improvement after it lost 11.6 percent in yield for the 2022 fiscal year.