Our quarterly report summarizes asset allocation and total investment performance for over 400 of Cambridge Associates’ endowment and foundation clients. For the quarter ending June 30, 2014, the Cambridge Associates US endowment and foundation universe earned an average nominal return of 3.6%; trailing one-year returns averaged 15.7%. Included in the report are sections on performance attribution, risk analytics, and commentary on summary observations. Tables and charts are organized by peer type and asset size.