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Quarterly Investment Performance
Conference Call
August 22, 2018
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
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
Valuation Metrics (3-Month Average)
Source: Bloomberg, as of 6/30/18 - trailing P/E
U.S. Dollar Trade Weighted Index
Source: Federal Reserve, as of 6/30/18
110
120
130
Dec-17 May-18
Proposed vs. Implemented U.S. Tariffs ($Billions)
Source: Verus, as of 7/6/18
Proposed: $880
Implemented: $90
Washing machines
and solar panels
Steel and
aluminum
China:
first $50
billion
China:
additional
$100 billion
All
auto
tariffs
China:
additional
$400 billion
GDP Growth Expectations
Source: Bloomberg, as of 7/5/18
Performance & attribution for Endowment Portfolio
Asset Allocation
$528.5 million as of June 30, 2018
Includes Principal Only
Returns*
For period ending June 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 but gross of TSDF fees
Performance & attribution for Long-Term Portfolio
Asset Allocation
$88.6 million as of June 30, 2018
Includes Principal Only
Returns*
For period ending June 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 but gross of TSDF fees
Performance & attribution for Medium-Term Portfolio
Asset Allocation
$51.7 million as of June 30, 2018
Includes Principal Only
Returns*
For period ending June 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 but gross of TSDF fees
Performance & attribution for Short-Term Portfolio
Asset Allocation
$23.4 million as of June 30, 2018
Returns*
For period ending June 30, 2018
Returns are reported net of investment manager fees but gross of TSDF fees
Q&A
To submit questions for the Q&A,
please use the “Questions” chat function
Thank You
SDFoundation.org/Investments

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Q2-2018 Quarterly Investment Webinar - The San Diego Foundation

  • 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. 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. Valuation Metrics (3-Month Average) Source: Bloomberg, as of 6/30/18 - trailing P/E
  • 5. U.S. Dollar Trade Weighted Index Source: Federal Reserve, as of 6/30/18 110 120 130 Dec-17 May-18
  • 6. Proposed vs. Implemented U.S. Tariffs ($Billions) Source: Verus, as of 7/6/18 Proposed: $880 Implemented: $90 Washing machines and solar panels Steel and aluminum China: first $50 billion China: additional $100 billion All auto tariffs China: additional $400 billion
  • 7. GDP Growth Expectations Source: Bloomberg, as of 7/5/18
  • 8. Performance & attribution for Endowment Portfolio Asset Allocation $528.5 million as of June 30, 2018 Includes Principal Only Returns* For period ending June 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 but gross of TSDF fees
  • 9. Performance & attribution for Long-Term Portfolio Asset Allocation $88.6 million as of June 30, 2018 Includes Principal Only Returns* For period ending June 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 but gross of TSDF fees
  • 10. Performance & attribution for Medium-Term Portfolio Asset Allocation $51.7 million as of June 30, 2018 Includes Principal Only Returns* For period ending June 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 but gross of TSDF fees
  • 11. Performance & attribution for Short-Term Portfolio Asset Allocation $23.4 million as of June 30, 2018 Returns* For period ending June 30, 2018 Returns are reported net of investment manager fees but gross of TSDF fees
  • 12. Q&A To submit questions for the Q&A, please use the “Questions” chat function