Performance and Analysis

Investment Strategy and Performance as of February 28, 2018.

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

February brought forth a sharp reminder that capital markets can become volatile without warning.  For many it will be a surprise to read that this most recent period of losses was quite a bit less pronounced than that which we see in a typical year. Yet, that is not how many investors perceived the change. This is natural as most of us are conditioned to notice the shift in market behavior rather than how any particular period stacks up to history.

Nevertheless, periods of volatility remind us that despite their unpleasant nature, the Foundation’s ability to generate superior returns is in part correlated to the level of emotion and short term thinking that can be found in markets over time.

Note: The Custom Market Benchmark reflects a weighted average of market indices using the portfolio’s strategic asset mix over time.

The long-term assets continue to post solid absolute gains over time.   To the extent that the recent shift in market conditions is sustained, we expect that the portfolio’s diversified approach and exposure to out of favor but attractively valued securities will contribute to the continuation of the Foundation’s long record of success.

 

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)