Investment Update for June 30, 2014 Fund Statements
August 6, 2014
From: Lynne Black, Vice President of Finance and Administration, GRCF and Michael Rosloniec, Investment Review Committee Chair
What a year of accomplishments for the Community Foundation! While audited figures are not yet available, initial financials show:
- $16.5+ million in gifts
- $10.7 million in grants
- $42 million in investment returns
- $328.9 million in total assets (up almost $43 million over last year)
Returns for the main investment pool for the last quarter were up again providing a positive net return of 2.7%. Annualized returns, net of fees, for the year ending 6/30/14 were:
1 year 16.1%
3 years 8.6%
5 years 11.9%
We are especially encouraged by the fact that, with the exception of our one year return, the performance for all other time periods are above our benchmarks. Significant contributors over the past year included: Vulcan Value (large cap) at 28.8%, DFA Targeted Value (small cap) at 28.4% and Wellington DIH (Commodities) at 16.7%. The Investment Review Committee continues to closely monitor the managers and the portfolio’s risk and return.
With the new fiscal year, many of you are anxious to know your spendable balance. Staff is working on the spending rate calculation (5% over rolling 16 quarters) for endowed funds. These balances will be included on your September statements (available sooner online). If you need this information before then, please contact Lynne Black or Amanda St. Pierre at 616-454-1751.