Performance and Analysis

Investment Strategy and Performance as of December 31, 2017

Each quarter we update donors of the performance of each of our investment portfolios.

Performance Summary from Mike Miller at Colonial Consulting

Market returns in 2017 were remarkable in many respects. While strong global gains and only the most fleeting of reminders that stock prices are volatile were quite enjoyable, it was the inconsistency between geopolitical conditions and sedate markets that we found most instructive.

We remain mystified by the number of investors who apparently prefer fumbling in the dark in pursuit of that which cannot be explained: short to intermediate term market movement. Sadly, this is not a harmless activity as it frequently results in missing out on market gains which were “not supposed to happen” and participating fully in losses that suffered from the same apparent flaw. Ultimately, it is best to remember that market prices only correlate logically to the actual value of investments over very long-time frames. The foundation’s strategy is built on this principle.

Endowment – Ending 12/31/17 Net of fees

Long Term Donor Advised – 12/31/17 Net of fees

Socially Responsible Investments 

Our Socially Responsible Investments (SRI) Portfolio is externally managed by PAX World Investments. It offers full Environmental, Social and Governance (ESG) integration. Please find their quarterly performance review here:

PAX Balanced Fund (PDF)