Endowments Quarterly: Second Quarter 2021
Our quarterly report summarizes asset allocation and total investment performance for 389 of Cambridge Associates’ US endowment and foundation clients.
Peer Data
Foundation Annual Investment Pool Returns: Calendar Year 2020
This report, based on a survey that Cambridge Associates administers annually to our foundation clients, summarizes returns, asset allocation, and other investment-related data for 112 foundations for the year ended December 31, 2020. 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 Policy Practices: Fiscal Year 2020
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 analysis on the endowment’s support of operations and effective spending rate.
Foundation Annual Flash Statistics Report: Calendar Year 2020
The Foundation Annual Flash Statistics Report provides a first look at the results of our 2020 Foundation Annual Investment Pool Returns survey. Included in the analysis are a summary of investment pool returns, asset allocation, and returns after spending for 112 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.
Endowments Quarterly: First Quarter 2021
Our quarterly report summarizes asset allocation and total investment performance for 397 of Cambridge Associates’ US endowment and foundation clients. In addition, the report contains tables and charts that show returns and asset allocation by peer type and asset size.
Comparative Asset Allocation and Total Return: UK Foundations and Endowments
Our biannual report summarizes asset allocation and total investment performance for 28 of Cambridge Associates’ UK foundation and endowment clients.
Comparative Asset Allocation: Private Clients
Our biannual report summarizes asset allocation for 134 of Cambridge Associates’ US-based private clients.
Endowment Radar Study 2020: The Endowment as Ballast
While colleges and universities have faced several financial fissures due to the disruptions of COVID-19, their endowments have been a source of financial stability. Four key financial indicators tell this story: operating margins were compressed, tuition discounts grew, institutions borrowed more debt, and endowment spending was consistent. In this note, we review these financial pressures and the endowment implications that emerged in Cambridge Associates’ second annual Endowment Radar Study of private college and university finances.
Endowments Quarterly: Fourth Quarter 2020
Our quarterly report summarizes asset allocation and total investment performance for 386 of Cambridge Associates’ US endowment and foundation clients. In addition, the report contains tables and charts that show returns and asset allocation by peer type and asset size.
Annual Review of Endowments: Fiscal Year 2020
This report summarizes returns, investment policy, asset allocation, and related trends for 312 endowed institutions. Included are exhibits on asset class returns, performance attribution, risk analytics, policy portfolio benchmarking, and uncalled capital commitments. The analysis is broken down by size of assets under management and by institution type. The report also contains sections on investment manager structures, payout from the long-term investment portfolio, and investment office staffing and governance.