Investment Summary Q4 – 2019

The U.S. stock market finished 2019 with its best year since 2013. Stocks bounced back from late 2018 losses in Q1 2019, slowed slightly in May, and finished the year with a rally as trade tensions appeared to ease. There were other contributing factors to the rebound. The Federal Reserve resumed its accommodative position cutting interest rates 3 times in the last half of 2019. Unemployment remains historically low. GDP declined slightly but is still in the 2% range.

Our Diversified Fund and Endowment Investment Fund returned 20.3% for the year. We had returns near this in the late 1990’s but this is the best one year performance for our balanced fund options in at least 35 years. It is impossible to predict when the markets will turn but they will adjust as market cycles always do. We are thankful for 2019 and will continue with our long-term, diversified, and disciplined investment approach that has served us well in both up and down markets.

Year-to-date December 31, 2019

  • U.S. Equities 30.2%     /   International Equities 25.9%
  • Fixed Income 10.4%    /   Inflation Protection Strategies 9.1%
December 31, 2019
Trailing 3 Years
December, 2019
Diversified Fund 20.3% 9.4%
Lipper Median* 17.8% 7.9%
Over (Under) Performance 2.5%   1.5%
Endowment Investment Fund 20.3% 9.4%
Lipper Median* 17.8% 7.9%
Over (Under) Performance 2.5%   1.5%
Fixed Income Fund 9.9% 5.0%
BC U.S. Aggregate 8.7% 4.0%
Over (Under) Performance 1.2%   1.0%
* – Median returns from the Lipper mutual fund universe for balanced funds in the asset class category. As of 01/10/2020, the universe consisted of 4,574 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.