11 At EUREKA! Pitch Nights, student entrepreneurs shine as they present bold ideas to a panel of judges. Hosted by The Baker Institute, these Shark Tank-inspired evenings generate funding and mentorship opportunities for innovative student projects. Target Asset Allocation Percentages ASSET CLASS FISCAL YEAR 2024 RETURN FISCAL YEAR 2024 TARGET ALLOCATION COMMENTARY Public Equity 21 37 The Public Equity portfolio was the highest contributor as the global equity market continued to benefit from outperforming mega-cap technology and growth companies. Like last year, the increase in these stocks has largely been driven by demand for AIrelated technologies and the supporting infrastructure. Private Equity 5 30 The Private Equity portfolio performed below long-term return expectations as venture capital managers dealt with a difficult fundraising environment and minimal valuation increases, except for a small group of outperforming companies and the previously mentioned AI-related technologies. Buyout and growth equity managers performed well compared to the broader private equity benchmark. Absolute Return 8 20 The Absolute Return portfolio was a consistent contributor to performance despite some volatile periods in the global markets. The portfolio is structured to be highly uncorrelated to markets and achieved positive performance across each of the subportfolios including hedge funds, credit, and opportunistic strategies. Real Estate -4 5 - The Real Estate portfolio outperformed its benchmark but still saw negative perfor mance due to high interest rates and shifting supply-demand dynamics. The largest exposure is to industrial and multi-family, with industrial performing especially well. Treasuries & Cash 5 8 The Treasuries and Cash portfolio was positive as the short-term treasury yields were above 5% for most of the fiscal year. The portfolio was set up to capitalize on the meaningful yield the market provided. This will be reevaluated as rate cuts are expected over the next year.
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