Investment Summary as of May 31, 2016

U.S. stocks in the S&P 500 Index gained 1.8% in May for a year-to-date total return of 3.6%. International developed market stocks in the MSCI EAFE Index were down (1.5%) in May and are down (2.8%) year-to-date. Bonds in Barclays Capital U.S. Aggregate Index were flat at 0.03%.

The Diversified Fund and Endowment Investment Fund gained 0.3% for the month, just ahead of the benchmark return of 0.2%. The Funds are up 2.5% year-to-date versus a benchmark gain of 3.2%. 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
May 31, 2016
  Year-to-Date
May 31, 2016
Diversified Fund 0.3%   2.5%
Benchmark* 0.2%   3.2%
Over (Under) Performance 0.1%   (0.7%)
       
Endowment Investment Fund 0.3%   2.5%
Benchmark* 0.2%   3.2%
Over (Under) Performance 0.1%   (0.7%)
       
Fixed Income Fund (0.3%)   4.5%
BC U.S. Aggregate 0.0%   3.5%
Over (Under) Performance (0.3%)   1.0%
       
* – 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.