Yale University’s endowment returned 6.8% in the fiscal year ended in June, an improvement over the previous 12-month period.

The fund rose by about $900 million to a record $31.2 billion as of June 30, the Ivy League school in New Haven, Connecticut, said Thursday in an emailed statement. The latest returns topped the endowment’s 5.7% gain for fiscal 2019.

A perennial outperformer, the fund returned 10.9% on average over the past decade, according to the statement. For fiscal 2020, it beat the 2.6% median return of school funds, excluding fees, based on data collected by the Wilshire Trust Universe Comparison Service. Yale’s figures are net of fees.

The fund’s target portfolio for fiscal 2021 allocates almost half to hedge funds and venture capital, at 23.5% for each asset class. It also earmarks 17.5% for leveraged buyouts and just 2.25% for U.S. stocks.

Led by Chief Investment Officer David Swensen since 1986, the endowment is the second-largest private school fund after Harvard University’s.