The markets continued to their post-election run. It was a solid quarter for absolute investment performance with all four broad asset allocation strategies of the Diversified/Endowment Investment Funds in positive territory:

• U.S. Equities +5.4%     /   International Equities +8.6%
• Fixed Income +2.0%   /   Inflation Protection Strategies +1.3%

 

The Funds out-performed peers in the Lipper Median due to:

• Overweight to emerging market stocks in the international equity portfolio
• Allocations to emerging market debt and high yield bonds in the fixed income portfolio

	Qtr Ended March 31, 2017		12 months Ended March 31, 2017
Diversified Fund	4.8%		11.1%
Lipper Median*	3.9%		9.7%
Over (Under) Performance	0.9%		1.4%
Endowment Investment Fund	4.8%		11.1%
Lipper Median*	3.9%		9.7%
Over (Under) Performance	0.9%		1.4%
Fixed Income Fund	2.0%		4.2%
BC U.S. Aggregate	1.8%		0.5%
Over (Under) Performance	0.2%		3.7%
* – Median returns from the Lipper mutual fund universe for balanced funds in the asset class category. As of 3/31/2017, the universe consisted of 5,057 peers. Source: Wilshire Associates, Lipper, and Wespath     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.