Investment Summary Q3 – 2019

It was a volatile but overall relatively flat quarter. As expected, the Federal Reserve cut interest rates by a quarter point in July and again in September but those actions, for the most part, appear to have already been priced into the markets. U.S. large stocks in the S&P 500 Index gained 1.7% for the quarter. Growth stocks continue to out-perform across U.S. small, mid, and large-cap equity strategies. International developed stocks in the MSCI EAFE Index were down 1.7%. The Bloomberg Barclays U.S. Aggregate bond index gained 2.3% for the quarter.

Year-to-date September 30, 2019

  • U.S. Equities 19.9%     /   International Equities 13.4%
  • Fixed Income 9.3%    /   Inflation Protection Strategies 7.4%
September 30, 2019
Trailing 3 Years
September 30, 2019
Diversified Fund 13.1% 7.1%
Lipper Median* 12.5% 6.4%
Over (Under) Performance 0.6%   0.7%
Endowment Investment Fund 13.1% 7.1%
Lipper Median* 12.5% 6.4%
Over (Under) Performance 0.6%   0.7%
Fixed Income Fund 8.9% 3.8%
BC U.S. Aggregate 8.5% 2.9%
Over (Under) Performance 0.4%   0.9%
* – Median returns from the Lipper mutual fund universe for balanced funds in the asset class category. As of 10/10/2019, the universe consisted of 4,749 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.