Investment Summary Q3 – 2018

Volatility remained the story with the headlines dominated by trade policy, increasing interest rates, the rebound in the U.S. dollar, and a stronger U.S. economy. U.S. large stocks in the S&P 500 Index were up 7.7% for the quarter marking the longest bull market in modern history. International stocks in the MSCI EAFE Index were up 0.8%. The U.S. dollar’s 2018 rebound has adversely affected non-dollar investments in the International Equity, Fixed Income, and Inflation Protection portfolios.

Quarter Ended September 30, 2018

  • U.S. Equities +6.2%     /   International Equities (0.6%)
  • Fixed Income +0.4%    /   Inflation Protection Strategies (0.6%)

Year-to-date September 30, 2018

  • U.S. Equities +11.9%     /   International Equities (2.7%)
  • Fixed Income (1.5%)    /   Inflation Protection Strategies (0.7%)
Year-to-date
September 30, 2018
Trailing 1 Year
September 30, 2018
Diversified Fund 2.5% 6.3%
Lipper Median* 2.0% 5.3%
Over (Under) Performance 0.5%   1.0%
Endowment Investment Fund 2.5% 6.3%
Lipper Median* 2.0% 5.3%
Over (Under) Performance 0.5%   1.0%
Fixed Income Fund (1.5%) (0.8%)
BC U.S. Aggregate (1.6%) (1.2%)
Over (Under) Performance 0.1%   0.4%
* – Median returns from the Lipper mutual fund universe for balanced funds in the asset class category. As of 10/08/2018, the universe consisted of 5,182 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.