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Q3-2018 Quarterly Investment Webinar - The San Diego Foundation

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During this 30-minute conference call, The San Diego Foundation Investment Chair Steve Klosterman, AIF and Chief Investment Officer Matt Fettig, CFA discussed 2018 Q2 trends, returns and asset allocation for The Foundation's Endowment Portfolio and Long-Term, Medium-Term and Short-Term Non-Endowment Portfolios.

The discussion concludes with a Q&A from webinar attendees. For more information, visit SDFoundation.org/investments.

You can watch the recording of the webinar here: https://www.youtube.com/watch?v=wzYzPbOqY40

Published in: Government & Nonprofit
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Q3-2018 Quarterly Investment Webinar - The San Diego Foundation

  1. 1. Quarterly Investment Performance Conference Call December 11, 2018
  2. 2. Speakers Steve Klosterman Regional Director, Halbert Hargrove Chair, Investment Committee The San Diego Foundation Matt Fettig, CFA Vice President, Chief Investment Officer The San Diego Foundation Brian Zumbano Vice President, Development & Stewardship The San Diego Foundation
  3. 3. Agenda 1. Macroeconomic update 2. Performance & attribution for Endowment Portfolio 3. Performance & attribution for Long-Term Portfolio 4. Performance & attribution for Medium-Term Portfolio 5. Performance & attribution for Short-Term Portfolio 6. Q&A
  4. 4. Asset Class Returns
  5. 5. U.S. and International Equities at Inflection Points
  6. 6. The Fed and Interest Rates Source: Bloomberg, FactSet, Federal Reserve, J.P. Morgan Asset Management.Market expectations are the federal funds rates priced into the fed futures market as of the date of the June 2018 FOMC meeting. Guide to the Markets –U.S.Data are as of June 30, 2018. Source: FactSet, Bloomberg, Standard & Poor’s. All calculations are cumulative total return, including dividends reinvested for the stated period. U.S. Data are as of December 31, 2017.
  7. 7. Interest Rates and Equities Source: FactSet, FRB, Standard & Poor’s, J.P. Morgan Asset Management.Returns are based on price index only and do not include dividends. Markers represent monthly 2-year correlations only.Guide to the Markets –U.S.Data are as of June 30, 2018.
  8. 8. Intra-Year Declines are Normal Source: FactSet, Standard & Poor’s, J.P. Morgan Asset Management.Returns are based on price index only and do not include dividends. Intra-year drops refers to the largest market drops from a peak to a trough during the year. For illustrative purposes only. Returns shown are calendar year returns from 1980 to 2017, over which time period the average annual return was 8.8%. Guide to the Markets –U.S.Data are as of June 30, 2018.
  9. 9. Performance & attribution for Endowment Portfolio Asset Allocation $563.5 million as of September 30, 2018 Includes Principal Only Returns* For period ending September 30, 2018 *The Foundation's Policy Index is a composite of indexes reflecting our diversified portfolio, specifically: 49% MSCI ACWI IMI (net), 17% BBgBarc US Universal Bond Index, 9.1% NCREIF ODCE, 15% HFRI FOF Index, 6% Cambridge Assoc. U.S. Private Equity Index lagged 1 Quarter, 3.9% Bloomberg Commodity Index. Returns are reported net of investment manager fees, gross of TSDF fees.
  10. 10. Performance & attribution for Long-Term Portfolio Asset Allocation $89.1 million as of September 30, 2018 Includes Principal Only Returns* For period ending September 30, 2018 The Foundation's Policy Index for Long Term Pool is 50% MSCI ACWI IMI (net), 20% BBgBarc US Universal Bond Index, 20% HFRI FOF Index, 5.5% FTSE NAREIT, 4.5% Bloomberg Commodity Index. Fixed Income Index: 100% BBgBarc US Universal Bond Index. Returns are reported net of investment manager fees, gross of TSDF fees.
  11. 11. Performance & attribution for Medium-Term Portfolio Asset Allocation $56.3 million as of September 30, 2018 Includes Principal Only Returns* For period ending September 30, 2018 *The Foundation's Policy Index for Medium Term Portfolio is 30% MSCI ACWI IMI (net), 45% BBgBarc US Universal Bond Index, 20% BofA ML 1-3 Yr Treasury, 5% 91-Day T-Bills. Returns are reported net of investment manager fees, gross of TSDF fees.
  12. 12. Performance & attribution for Short-Term Portfolio Asset Allocation $21.8 million as of September 30, 2018 Returns* For period ending September 30, 2018 Returns are reported net of investment manager fees, gross of TSDF fees.
  13. 13. Q&A To submit questions for the Q&A, please use the “Questions” chat function
  14. 14. Thank You SDFoundation.org/Investments

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