Flagship public universities in Colorado and Texas are leading the way in posting double-digit investment gains as U.S. schools begin reporting performance for fiscal 2017, according to Bloomberg. The University of Colorado’s $1.2bn endowment gained 15% in the 12 months through June 30, while the University of Texas’s $28.8bn fund was up 13.4%.

The University of South Florida will receive an additional $16m in funding from the state government after it surpassed a six-year graduation rate of 70%, writes the Tampa Bay Business Journal. Surpassing the threshold allowed the university to meet 11 of the 12 criteria needed to receive the funding, with South Florida still short $60m to meet the $500m endowment requirement.

Institutional investors need to adjust their investment horizons and return targets to take a longer-term view through the market cycle, argues U.S.-based MFS Investment Management. The firm’s Ravi Venkataraman calls for these asset owners to reduce their expected returns to as low as 5%. Asia Asset Management has the story.

The University of California’s CIO Jagdeep Bachher teamed up with Ashby Monk to write an editorial for Institutional Investor calling on endowments and pensions alike to be more proactive about fee transparency. Bachher cited his investment staff which has worked to aggressively minimize fees and only pay premiums when they are earned.

Bachher and his system were also profiled by Bloomberg BusinessWeek in which the CIO talks about his consolidation efforts at the university. The article mentions that Bachher has fired almost half of the outside money managers formerly on UC’s payroll since taking over in 2014.