Foundations and endowments have moved assets toward global equities and bonds and away from domestic equities and bonds in the year ended March 31, according to a report from eVestment.
Passive global equities had inflows of $4.3 billion and global aggregate fixed income had inflows of $1 billion.
Outflows were greatest in the areas of domestic large-cap value equities in the year ended March 31, followed by domestic small-cap equities and domestic large-cap growth equities, according to eVestment's Investor Trends Report: Foundations and Endowments.
Domestic large-cap value equities saw outflows of $1.9 billion, while small-cap value equities had outflows of $1.8 billion and large-cap growth had $1.6 billion.
Despite the shift in assets, among the equity and fixed-income universes, domestic equities still led as of March 31, with $111.9 billion in assets, followed by domestic fixed income with $93 billion in assets. Global equity had $41 billion in assets, while global fixed income had $17 billion.
A total of $388 billion in foundation and endowment assets as of March 31 are reflected in the manager data in eVestment's database.