{"id":3126,"date":"2025-02-26T11:23:58","date_gmt":"2025-02-26T16:23:58","guid":{"rendered":"https:\/\/www.rochester.edu\/endowment\/?page_id=3126"},"modified":"2025-02-27T16:33:06","modified_gmt":"2025-02-27T21:33:06","slug":"fiscal-2024-report","status":"publish","type":"page","link":"https:\/\/www.rochester.edu\/endowment\/fiscal-2024-report\/","title":{"rendered":"Fiscal 2024 Report"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"","protected":false},"author":36,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"class_list":["post-3126","page","type-page","status-publish","hentry"],"acf":{"lead_in":"","display_title":"","subtitle":"","call_to_action":"","hero_image_placement":"no_image","hero_media":"images","hero_pattern_option":"","hero_video":"","hero_image_landing":"","hero_image_landing_two":"","hero_image_landing_three":"","content_modules":[{"acf_fc_layout":"text","anchor":"","css_class":"","title":"

Fiscal 2024 Report<\/h2>","content":"Report on Investment Performance for the fiscal year ending June 30, 2024<\/strong>\r\n\r\nOn June 30, 2024, the market value of the University of Rochester\u2019s Long Term Investment Pool (\u201cLTIP\u201d) was $3.5 billion. Performance for the fiscal year was 9.5%, net of all fees and expenses, compared with the benchmark return of 16.5%. The performance of the LTIP exceeded the benchmark for ten years but lagged for one, three, and five years. The recent lag was primarily caused by the rapid increase in the equity benchmark from the price frenzy in the \u201cMagnificent 7\u201d stocks (artificial intelligence) and a slightly negative three-year return on private partnerships. Private partnerships remained the LTIP\u2019s best-performing asset class for five and ten years.\r\n\r\nThe table below shows the LTIP\u2019s June 30, 2024 allocations compared to targets for calendar year 2024.\r\n\r\n\"\"\r\n\r\nThe LTIP\u2019s 77% equity-oriented allocation, consisting of public equities, long\/short equities, and private partnerships, underperformed the LTIP\u2019s equity benchmark (ACWI) over one, three, and five years, and approximately equaled the benchmark over ten years (8.3% vs. 8.4% on the ACWI). The LTIP was 3% below its equity target for calendar year 2024, partly resulting from partnership distributions exceeding capital calls.\r\n\r\nAnnualized returns from the LTIP\u2019s 23% diversifier allocation, consisting of bonds, short-term investments, and uncorrelated hedge funds, outperformed all fixed-income benchmarks over one, three, five, and ten years.\r\n\r\nFor the ten years ending June 30, 2024, annualized volatility was 9.4% for the LTIP and 11.9% for the benchmark. Annualized ten-year volatility for the diversifier allocation was approximately 2.9% and 11.0% for the equity-oriented allocation.\r\n\r\nReturn attribution for fiscal year 2024 is shown in the chart below.\r\n\r\n\"\"\r\n
\r\n
\r\n\r\nThe LTIP has ample liquidity, with approximately 55% of its value convertible into cash within one year. This is a modest increase from 50% in 2023.\r\n\r\n<\/div>\r\n<\/div>\r\n
\r\n
\r\n\r\nInvestment Reports for Previous Years<\/a>\r\n<\/strong>\r\n\r\n<\/div>\r\n<\/div>","background_color":"#ffffff","width":"width-medium"}]},"yoast_head":"\nFiscal 2024 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-2024-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fiscal 2024 Report - Endowment\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rochester.edu\/endowment\/fiscal-2024-report\/\" \/>\n<meta property=\"og:site_name\" content=\"Endowment\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T21:33:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rochester.edu\/endowment\/wp-content\/uploads\/2025\/03\/Link-Preview-Endowment.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.rochester.edu\\\/endowment\\\/fiscal-2024-report\\\/\",\"url\":\"https:\\\/\\\/www.rochester.edu\\\/endowment\\\/fiscal-2024-report\\\/\",\"name\":\"Fiscal 2024 Report - 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