Peer Data

Endowments Quarterly: Second Quarter 2022

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Most endowments and foundations are on pace for their lowest fiscal year (June 30) returns since 2009. The various methods for reporting private investments play a significant role in the range of returns we have seen across our preliminary universe thus far. Our quarterly report investigates this topic and summarizes preliminary June 30 asset allocation and total investment performance for 378 of Cambridge Associates’ US endowment and foundation clients.

Foundation Annual Investment Pool Returns: Calendar Year 2021

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Our annual survey-based report summarizes returns, asset allocation, and other investment-related data for 112 foundations for the calendar year ended December 31, 2021. Included in this year’s report are commentary and exhibits across six sections: Investment Portfolio Returns, Investment Policy, Portfolio Asset Allocation, Investment Manager Structures, Payout from the Long-Term Investment Portfolio, and Investment Office Staffing and Governance.

Spending Policies and Practices: Fiscal Year 2021

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Annual distributions from the endowment are a source of supplemental operating revenue for most endowed institutions. An institution’s endowment spending policy provides a basis for the calculation of the annual distribution, serving as a bridge that links the long-term investment portfolio and the enterprise. The data and analysis in this report review the various spending rule types used among our endowed clients. Also included are analyses on the endowment’s support of operations and effective spending rate.

Foundation Annual Flash Statistics: Calendar Year 2021

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The Foundation Annual Flash Statistics Report provides a first look at the results of our 2021 Foundation Annual Investment Pool Returns survey. Included in the analysis are a summary of investment pool returns, asset allocation, and returns after spending for 111 foundations. Additionally, the report provides detailed data by institution on asset allocation. Look for our full annual analysis in the upcoming Foundation Annual Investment Pool Returns report.

Annual Review of Endowments: Fiscal Year 2021

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Our annual report based on a survey administered to our endowment clients summarizes returns, asset allocation, and other investment-related data for 307 institutions for the fiscal year ended June 30, 2021. We also review peer data on topics such as investment policy, portfolio manager structures, spending, and investment office staffing and governance.