Investment Summary as of April 30, 2016
U.S. stocks in the S&P 500 Index gained 0.4% in April for a YTD total return of 1.7%. International stocks rebounded as the U.S. dollar finally weakened. International developed market stocks in the MSCI EAFE Index were up 2.5% in April but are still down 1.4% YTD.
The Diversified Fund and Endowment Investment Fund gained 1.0% for the month, just off the benchmark return of 1.2%. The Funds are up 2.2% year-to-date versus a benchmark gain of 3.0%. Detractors from benchmark relative performance have been:
- An overweight to small-cap stocks in the U.S. equity portfolio while large stocks have been more in favor
- Diversifying inflation protection strategies while we remain in a period of low inflation
Month Ended April 29, 2016 |
Year-to-Date April 29, 2016 |
||
Diversified Fund | 1.0% | 2.2% | |
Benchmark* | 1.2% | 3.0% | |
Over (Under) Performance | (0.2%) | (0.8%) | |
Endowment Investment Fund | 1.0% | 2.2% | |
Benchmark* | 1.2% | 3.0% | |
Over (Under) Performance | (0.2%) | (0.8%) | |
Fixed Income Fund | 1.2% | 4.7% | |
BC U.S. Universal Bond Index (excl mbs) | 0.4% | 3.4% | |
Over (Under) Performance | 0.8% | 1.3% | |
* – Blend of 1) Wespath benchmark of 40% Russell 3000 Index, 25% MSCI ACWI Index (excluding US), 25% Barclays Capital U.S. Universal Index (excluding mbs), 10% Barclays Capital U.S. Government Inflation-Linked Bond Index and 2) HFRI Fund of Funds Composite Index for actual percentage of alternatives
Notes: Historical returns are time-weighted and net of all fees. Returns greater than one year are annualized. Past performance is no guarantee of future returns. |