Foundation Announces 2006 Investment Performance

Posted on February 19, 2007

The Community Foundation’s Finance & Investment Committee reported total investment returns of 14% in 2006. The positive returns were greater than expected, and according to Fred Moore, Treasurer, were attributed to the Foundation’s recent diversification of its investments.

Leading the way for the Foundation’s investments were the returns in the small cap portfolio through the Rothschild Small Cap Fund, which had an investment return of 25.49%. In the international market, the Foundation’s holdings in the Dodge & Cox International Stock Fund grew by 16.47%. The Foundation’s fixed-income holdings, at just under 25% of the total investment pool, returned 5.08% which was over 40 basis points better than its benchmark, the LB Intermediate Aggregate Bond Fund.

“We are obviously pleased with the results,” said Mr. Moore. “But we don’t expect double-digit returns every year. Our goal is to balance risk and return with our fiduciary responsibilities in the community and the granting needs of our endowed funds.”

Mr. Moore added that while a casual observer might be quick to point out that the S&P 500 Index grew 15.79% in 2006, the Foundation’s investments have far less risk than the S&P. During the down years of 2000 - 2002 the S&P lost an average of 14.3% compared to only 3.6% for the Community Foundation. “We may not beat them in up years,” said Moore. “But our performance is better in down years, giving us more consistency.”

The Foundation ended 2006 with over 100 endowed funds and total assets exceeding $31,000,000. It is the largest public foundation in Michigan’s Thumb Region and the 12th largest community foundation in Michigan.

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