Combined Investment Fund and Investment Committee
Building capital also means sound financial stewardship. With over three decades of experience, our record of funds management and investment performance remains strong. The Combined Investment Fund has assets of over $95 million [confirm this number with CFNCR] and is a pooled fund of the assets of many of The Community Foundation’s four component funds.
The overall financial objectives of the Foundation’s Combined Investment Fund are to:
· Invest in equity assets to achieve an annual rate of return in excess of the Standard and Poor’s 500 Common Stock Index; and,
· Invest in fixed income assets to achieve an annual rate of return in excess of the Lehman Brothers Government and Corporate Bond Index.
Combined Investment Fund Breakdown
As of June 30, 2007, the breakdown of the Combined Investment Fund is as follows:
Asset Class Target Weight
Fixed Income 28.21%
Southeastern Asset Management 28.87% (Large and Mid Cap Value)
Russell 1000 Growth Index 15.13% (Large Cap Growth)
Thompson Siegel 7.71% (Small Cap Value)
Delaware Capital Management 9.32% (International Equities)
NWQ 5.97% (International Equities)
Total Equities 67.0%
UBP Asset Management 4.79% (Fund of Funds Alternative Investment)
Total Alternative Investments 4.79%
We use appropriate benchmark indices to track each of these managers. However, we report against the standard 60/40 (60% S&P 500 index/40% Lehman Brothers Gov’t/Credit). For the second quarter of 2007 the combined investment fund earned 4.25% compared with the 60/40 index return of 3.57%.
Combined Investment Fund Returns --- April 1, 2007 – June 30, 2007
Fund Manager Return Index Comparison Index Return
Russell 1000 Growth Index UBP Asset Mgt 6.90% 5.24% R1000GHFRI Fund of Funds 6.86% 4.75%
Southeast. Asset MgtThompson Siegel 8.16% 3.71% R1000VR2000V 4.93% 2.30%
NWQDelaware Capital Mgt 4.85% 5.22% EAFEEAFE 6.67% 6.67%
Fixed Income Combined Fund Total -1.15% 4.25% LBGC Composite Benchmark -0.49% 3.57%
Combined Investment Fund Returns --- January 1, 2007 – March 31, 2007
Fund Manager Return Index Comparison Index Return
Russell 1000 Growth Index UBP Asset Mgt 1.22% 4.19% R1000GHFRI Fund of Funds 1.19% 3.03%
Southeast. Asset MgtThompson Siegel 2.13% 3.52% R1000VR2000V 1.24% 1.46%
NWQDelaware Capital Mgt 0.82% 2.03% EAFEEAFE 4.15% 4.15%
Fixed Income Combined Fund Total 2.43% 2.20% LBGC Composite Benchmark 1.47% 0.97%
Investment Committee
The Community Foundation’s Investment Committee is comprised of donors and members of the Community Foundation of the National Capital Region’s Board of Trustees. The key to long-term success is to maintain a strong, intelligent discipline with regard to asset allocation strategy and to use highly skilled investment managers. Our experienced Investment Committee oversees the investment management policies and monitors our investment performance.
Anne Wexler, Chair
Wexler & Walker Public Policy Associates
Daniel K. Mayers
Of Counsel, Wilmer Cutler Pickering Hale & Dorr
Hugh McLaughlin
Morgan Stanley
Sophia Green Robinson
Columbia Equity Financial Corp.
Mark Rothman
The MYTA Corporation
Jonathan Silver
Core Capital Partners
For More Information
Kenny Emson
Senior Vice President, Development and Donor Services
(202) 263-4779
kemson@cfncr.org
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