Investment Overview
As stewards, we strive to ensure that the charitable objectives of our donors will be met in perpetuity. A key part of this stewardship is to produce the maximum possible returns on our endowed assets. As such, The Community Foundation embarked on a two-year study to learn how best to position our investment portfolio. This process led to The Community Foundation entering into a unique investment partnership with the University of Richmond in January 2008. As far as we know, this partnership is unique in the country for the manner in which we are co-investing with the University's endowment.
The University of Richmond's endowment investment return historically has ranked in the top quartile of its university peers. Spider Management Company LLC, the investment manager for the University of Richmond's endowment, is managed by a professional staff team and is overseen by a Board that offers deep experience globally and access to superior managers across a broad range of investment strategies. Gaining access to a mature, well-diversified investment portfolio managed by a seasoned staff with an excellent performance record represents a great opportunity for The Community Foundation.
Investment Manager
Spider Management Company LLC
Investment Returns (as of 9/30/2011)
The footnotes below are an integral part of this report.
|
|
TCF |
S&P 500 Index |
|
One Year |
5.79% |
1.2% |
|
Three Years |
3.66% |
1.2% |
|
Five Years |
2.4% |
-1.2% |
|
Ten Years |
5.49% |
2.8% |
|
1 All performance numbers include the reinvestment of dividends and interest. 2 TCF performance includes both the SMC Composite (net of advisory fees and other expenses) from February 2008 to present and net investment return for prior periods. TCF completed its transition to SMC on 12/31/08. Prior to this time, the return is solely for TCF. |
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