A Summary of Our Investments
Investment returns, net of fees, for the periods ending September 30, 2013 were as follows:
|CFSJC Return||Policy Benchmark||CPI + 5%|
|One Year||+11.4%||+11.7%||+ 6.2%|
|Three Year||+ 9.2%||+ 8.2%||+ 7.4%|
|Five Year||+ 8.1%||+ 7.5%||+ 6.4%|
|Ten Year||+ 7.8%||+ 7.1%||+ 7.5%|
|Since Inception||+ 7.9%||+ 7.6%||+ 7.5%|
The Policy Benchmark is comprised of the following weighted indices: 70% All Country World Index and 30% Barclays Aggregate Bond Fund. The Community Foundation compares its performance to this benchmark to determine if active management of our investment portfolio produces a superior return to what a typical, passively invested endowment portfolio would produce.
The Community Foundation also compares our performance to a long-term benchmark comprised of 5% plus the rate of inflation as measured by the Consumer Price Index (CPI). Over the long-term, the Foundation seeks to earn 5% plus CPI to cover the cost of annual grants to charity while protecting the real value of the underlying endowments.
For Periods Ending September 30, 2013