Investment Returns

Period ended December 31, 2016

Investment PoolQtrYear to Date1 Year3 Years5 Years10 Years
Cash Equivalent0.1%0.5%0.5%0.3%0.3%1.3%
Fixed Income *-1.7%2.6%2.6%2.4%2.7%2.1%
Balanced0.5%6.6%6.6%2.5%7.1%4.5%
Equity1.4%7.4%7.4%2.9%9.5%4.8%
Market Indices      
Bank of America ML 91-Day Treasury Bill0.1%0.3%0.3%0.1%0.1%0.8%
Barclays Capital Aggregate Bond Index-3.0%2.7%2.7%3.0%2.2%4.3%
Weighted Composite Indices      
60% S&P 500; 40% Barclays Capital Intermediate U.S. Gov/Credit Index1.5%8.1%8.1%6.3%9.5%6.0%
60% MSCI World Index; 40% Barclays Capital Intermediate U.S. Gov/Credit Index0.4%5.9%5.9%3.6%7.4%4.5%
S&P 500 Index3.8%12.0%12.0%8.9%14.7%7.0%
MSCI World Index2.0%8.2%8.2%4.4%11.0%4.4%

Note:  All returns are net of investment management fees.  Returns may not reflect the actual performance of individual funds. The multi-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 Nov. 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.