Our Goal:  Investing with Peace of Mind

The Investment Committee believes that grants to be made in the future are as important as grants made today. This is consistent with the philosophy that The Community Foundation is to exist in perpetuity, and therefore, should provide for grant making in perpetuity. To attain this goal, the overriding objective of this Found- ation is to maintain purchasing power. That is, net of fees, the objective is to grow the aggregate porfolio value at the rate of inflation +5%. 

Combined Investment Fund Profile, January 2010

The Combined Investment Fund has assets of over $77 million and is a pooled fund of the assets of many of the three community foundations’ component funds. At December 31, 2009, the allocation of the Combined Investment fund was as follows:

Fixed Income                                        37.27%

Equities

Southeastern Asset Management             5.26% (large cap value)

Russell 1000 value index                         6.25% (large cap value)                 

Russell 1000 growth Index                   12.04% (large cap growth)

Mid Cap Value Index                              6.23% (mid cap value)                                          

Thompson Siegel                                     6.46% (small cap value)

Delaware Capital Management                            8.21% (International equities)

NWQ                                                       9.38% (International equities)

UBP Asset Management                         8.90% (Fund of Funds alternative investment)      

The combined investment fund was up 3.13% for the quarter ending December 31, 2009. The Policy index of 60% of the S&P 500 and 40% Barclays Aggregate Bond Index was up 3.37%. For 2009 the combined investment fund performance number was up 22.94% compared with the index of 17.72%.  Below is the performance of the individual managers that make up the combined investment fund. The Investment Committee has agreed to increase the international equity allocation to 20%. We purchased a 3% allocation of Vanguard Emerging Markets fund and reduced some NWQ exposure to keep the allocation to 20%. This adjustment in allocation reduced the fixed income percentage of the portfolio.      

Combined Investment Fund Returns --- October 1, –  December 31, 2009