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The Community Foundation functions both as a fiduciary and a charitable organization. With more than $300 million in charitable assets, we have a responsibility to manage those assets responsibly to ensure that we have resources to meet community needs for decades to come.
We offer four primary investment pools for charitable assets. Donors may recommend the pool that fits best with their charitable plans.
For endowed funds or funds with long-term purposes, we offer our Balanced and Equity Pools. These investments are diversified among asset types and investment managers. For fund advisors who prefer a more conservative investment approach or for those who have more immediate plans for recommending charitable grants, we offer the Cash Equivalent Pool and the Fixed Income Pool. All pools are professionally managed by the Foundation's investment committee and investment consultant Gerber/Taylor Associates, Inc.
The most recent quarterly returns are available below. Click on the links for descriptions of the pools and a full list of investment managers.
(Periods ended September 30, 2008)
|
Investment Pool |
Quarter |
Year to Date |
One Year |
Three Years |
Five Years |
| Cash Equivalent |
0.6% |
2.3% |
3.6% |
4.5% |
3.5% |
| Fixed Income* |
0.2% |
0.3% |
-4.5% |
-3.4% |
-0.6% |
| Balanced |
-9.5% |
-13.5% |
-14.0% |
2.9% |
5.9% |
| Equity |
-12.5% |
-19.1% |
-20.7% |
2.0% |
6.9% |
|
Market Indices |
|
| Salomon 3-month Treasury Bills |
0.4% |
1.5% |
2.5% |
4.0% |
3.1% |
| Lehman Bros. Aggregate Bond Index |
-0.5% |
0.6% |
3.6% |
4.1% |
3.8% |
Weighted Composite
(60% equities/40% fixed) |
-5.5% |
-11.7% |
-12.4% |
1.9% |
4.5% |
| S&P 500 |
-8.4% |
-19.3% |
-21.9% |
0.2% |
5.2% | Updated 12/01/2008
Note: All returns are net of investment management fees. Returns may not reflect the actual performance of individual funds. The three- and five-year returns are compounded annual returns.
*During the summer and fall of 2007, the performance in the Fixed Income Pool was negatively affected by significant losses in net asset value in the Regions Morgan Keegan Select Intermediate Bond Fund, which originally accounted for approximately 55% of the pool. As a result of those losses, the Foundation’s investment committee reduced its position in that fund by 40% in August 2007 and completely liquidated the position on November 15, 2007. The Fixed Income Pool no longer has any exposure to this fund. The Fixed Income Pool is the smallest of the Foundation's investment pools, amounting to approximately 1.5% of assets. No other investment pools or any other assets of the Foundation were affected by this investment.
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