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Investment Program
Q UARTERLY R EPORT
September 30, 2016
Market Report
After the worst start for a year ever, common stocks recovered and have continued to
gain ground in the third quarter. The most popular US market indices (Dow Jones, S&P500,
NASDAQ) all established new all-time highs in August. The Brexit vote in the UK triggered
some sell-off in September, but by quarter end domestic equities had gained nearly 4.5% for the
quarter and 8% for the year.
As the chart below shows, for Q3 small cap stocks performed substantially better than
large cap stocks and the growth style outperformed the value style in both large and small cap
categories. International stocks rebounded from Q2 with nice gains this quarter. Year-to-date,
international stocks trail the performance of the US market.
The performance of bonds was much more subdued, with short-term bonds flat and
intermediate-term bonds gaining only one-half percentage point. Year-to-date, fixed income
securities have achieved reasonable gainsabout 5.8% for intermediate-term bonds.
Market Returns for Quarter
1
9.2%
8.9%
6.3%
4.6%
3.5%
0.0%
Large Cap
Value
Small Cap
Growth
Small Cap
Value
International
Stocks
Short Term
Bonds
0.5%
Intermediate
Bonds
Return
4.9%
1.6%
0.0%
Benchmark
4.4%
0.5%
0.0%
Account Status
Foundation assets at quarter-end totaled $63 million, an increase of $2.5 million during
the quarter. Investment gains were $2 million or 3.4%. One new account was opened during the
quarter, with an initial deposit of $59 thousand.
At September 30th, the Foundation had a total of 208 accounts as follows:
Ownership
Churches/Schools
Diocese
Number of Accounts
152
56
Amount
34.7 million
28.3 million
Growth
3 Mo
1 Yr
3 Yr
5 Yr
3.08
(0.26)
(0.59)
7.88
(0.98)
(2.25)
4.53
(0.85)
(1.91)
9.36
(0.41)
(1.20)
3 Mo
1 Yr
3 Yr
5 Yr
2.93
(0.03)
(0.22)
7.60
(0.03)
(1.89)
4.53
(0.39)
(1.60)
8.04
0.03
(0.75)
3 Mo
1 Yr
3 Yr
5 Yr
2.61
0.06
(0.04)
7.19
0.42
(0.92)
4.19
(0.06)
(0.98)
6.56
0.25
(0.23)
3 Mo
1 Yr
3 Yr
5 Yr
0.70
0.08
0.19
1.59
0.25
0.25
1.13
0.15
0.16
0.99
0.08
0.22
Income
Capital Maintenance
* Returns for greater than one year are annualized. Past performance does not guarantee future
results.