California Community Foundation's $1.4 billion endowment pool returned a net 25.6% for the fiscal year ended June 30.
The Los Angeles-based foundation's return fell below its policy benchmark return of 27.1% for the period, said foundation spokeswoman Paula Valle Castanon.
For the three, five and 10 years ended June 30, the endowment pool returned an annualized net 9.9%, 10.3% and 7%, respectively, compared with their respective benchmarks of 10.7%, 10% and 6.8%.
The endowment pool had returned a net 0.1% for the fiscal year ended June 30, 2020.
Ms. Castanon said the foundation is not providing returns by asset class.
As of June 30, the actual allocation was 57.5% equities, 13.5% rate-sensitive assets, 10.5% real assets, 10.3% hedge funds and 8.2% credit.