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Native Hawaiian Trust Fund posts modest quarterly gain; trustees press for clearer manager performance data
Summary
Endowment Director Ryan Lee reported a 0.48% return for the quarter ending March 31, 2025, and outlined private markets commitments; Trustee Whitehead asked for clearer measures of the value added by manager-of-managers arrangements and whether asset-allocation targets should be revisited.
Endowment Director Ryan Lee told the Office of Hawaiian Affairs Committee on Investment and Land Management that the Native Hawaiian Trust Fund returned 0.48% for the quarter ending March 31, 2025, a result he said “outperformed the policy benchmark that was flat.”
Trustees asked detailed questions about manager performance, fees and asset-allocation strategy during a presentation that reviewed market conditions, portfolio positioning and private-markets commitments.
The trust’s quarterly briefing covered global market drivers and portfolio effects before summarizing the fund’s results. “This slide covers the Native Hawaiian Trust performance for the quarter. Now trust fund returned 0.48%, so about half a percent, outperformed the…
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