philanthropic goals and time horizons, including a pool dedicated to
impact investing strategies. Each pool is diversified across asset classes
and strategies to achieve return objectives while minimizing volatility.
Donors establishing advised funds may allocate across the pools.
solid results over one-, three- and five-year periods when measured
against benchmarks, peer groups and on a risk-adjusted basis.
judged over longer time horizons. Our two portfolios designed for
long-term preservation of purchasing power and endowment-like
spending generated top-quartile annualized returns of 2.8 percent
and 2.3 percent for the five years ending December 31, 2012,
outperforming a majority of endowments and foundations with assets
of $100 million or more. Over the past three years, these portfolios
posted above-median annualized returns of 8.1 percent and 7.7
percent compared to the same peer group.
respective benchmarks, and with less volatility, over the five-year
period ending December 31, 2012. The Long-Term Growth Pool's
return exceeded those of 90 percent of the peer group, and with
lower volatility than 68 percent of those surveyed.
assets allocated to the Long-Term Growth Pool enjoyed strong, consistent
investment returns in support of donors' charitable goals.
capital at any community foundation dedicated to investments that seek
a social or environmental benefit in addition to financial return. As of
August 2013, the pool was valued at $80 million.