Investment Summary Q4 – 2018

The 4th quarter was a difficult one for investors with many asset classes seeing their largest declines in a decade. Continued uncertainty regarding trade and tariff negotiations with China, possible future interest rate increases by the Fed, and concerns of a slowing U.S. economy weighed on the markets. U.S. large stocks in the S&P 500 Index were down (9.0%) for the quarter after peaking at an all-time high in the 3rd quarter. The S&P 500 ended the year (-4.4%). International stocks in the MSCI EAFE Index were down (12.9%) for the quarter and (16.1%) for the year.

Quarters like these remind us our investment focus remains long-term. While these periods can be difficult to watch in real time, our diversified and disciplined approach includes not overreacting or trying to outguess the markets in the short-term. This strategy has served us well over the years.

Year-to-date
December 31, 2018
Trailing 3 Years
December 31, 2018
Diversified Fund (6.9%) 5.3%
Lipper Median* (6.0%) 4.5%
Over (Under) Performance (0.9%)   0.8%
Endowment Investment Fund (6.9%) 5.3%
Lipper Median* (6.0%) 4.5%
Over (Under) Performance (0.9%)   0.8%
Fixed Income Fund (1.1%) 3.6%
BC U.S. Aggregate (0.0%) 2.1%
Over (Under) Performance (1.1%)   1.5%
* – Median returns from the Lipper mutual fund universe for balanced funds in the asset class category. As of 01/08/2019, the universe consisted of 5,083 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.