Investment Summary – Q4 2017

The equity markets finished the year strong; reaching all-time highs for the Dow, S&P 500, and the NASDAQ during the 4th quarter. The economy continues to improve with strong U.S. corporate earnings, record low unemployment rates, and continued low inflation leading the Fed to increase short term interest rates again in December. Congress passed significant income tax reform legislation at year end that has been well received by the markets. International stocks have benefitted from the rebound in emerging markets.

It has been an excellent year for absolute investment performance with all four broad asset allocation strategies of the Diversified/Endowment Investment Funds with positive performance:

Quarter Ended December 31, 2017

  • U.S. Equities +5.8%     /   International Equities +5.1%
  • Fixed Income +0.7%    /   Inflation Protection Strategies +1.6%

Year-to-date ended December 31, 2017

  • U.S. Equities +19.9%     /   International Equities +30.6%
  • Fixed Income +6.6%    /   Inflation Protection Strategies +4.4%

Benchmark performance comparisons will be available later this month once the Lipper Median returns are released.

Year-to-date
December 31, 2017
12 months Ended
December 31, 2017
Diversified Fund 3.7% 16.9%
Endowment Investment Fund 3.7% 16.9%
Fixed Income Fund 0.7% 6.6%
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.