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The Board's Investment Committee recommends all modifications to the Statement of Investment Policy, sets market-driven performance benchmarks, and monitors all practices and performance of the underlying investment.
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PERFORMANCE VERSUS THE MARKET BENCHMARKS
1st Quarter 2008
Annualized for periods of one year or more, and after payment of fees.
The table below presents the externally audited investment performance for the periods ended March 31, 2008 for The Community Foundation for Greater New Haven, Inc. (The Corporation), which includes those funds held by the Valley Community Foundation, since its inception in February 2004. All performance data is expressed as percentages and audited and reported by Colonial Consulting, LLC, January 25, 2008.
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1 yr. |
3 yrs. |
5 yrs. |
7yrs. |
10 yrs. |
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| The Corporation |
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(0.1) |
8.8 |
13.1 |
8.1 |
6.4 |
| Benchmark* |
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(2.0) |
7.6 |
11.7 |
6.8 |
5.5 |
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1 yr |
3 yrs. |
5 yrs. |
7yrs. |
10 yrs. |
| Market Indices: |
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S&P 500 |
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(5.1) |
5.8 |
11.3 |
3.7 |
3.5 |
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Russell 1000 Growth |
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(0.7) |
6.3 |
10.0 |
2.1 |
1.3 |
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Russell 1000 Value |
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(10.0) |
6.0 |
13.7 |
6.3 |
5.5 |
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Russell 2000 |
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(13.0) |
5.1 |
14.9 |
7.6 |
5.0 |
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Russell 2000 Growth |
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(8.9) |
5.7 |
14.2 |
4.9 |
1.7 |
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Russell 2000 Value |
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(16.9) |
4.3 |
15.4 |
10.0 |
7.5 |
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MSCI EAFE |
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(2.7) |
13.3 |
21.4 |
9.2 |
6.2 |
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MS Emerging Markets |
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21.3 |
29.2 |
35.5 |
22.6 |
12.3 |
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Lehman Aggregate (bonds) |
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7.7 |
5.5 |
4.6 |
5.7 |
6.0 |
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Merrill Lynch High Yield |
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(3.5) |
4.9 |
8.4 |
6.8 |
5.2 |
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T-Bills + 5.0% |
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10.0 |
9.7 |
8.4 |
8.2 |
8.9 |
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HFRI Fund of Funds |
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2.3 |
7.5 |
8.1 |
6.4 |
6.3 |
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HFRI Equity Hedge |
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1.3 |
8.6 |
11.0 |
7.2 |
10.4 |
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* Relative benchmark is equal to: Fifty (50) basis points above the rate of return produced by specific market indices representing the asset classes contained in their asset allocation model, with such market indices weighted in accordance with that model.
The table below presents the value added, as of March 31, 2008, stated in basis points, versus the Relative and Absolute performance benchmarks, generated by The Corporation and The Foundation's two largest trustee banks since implementation of the long-term asset allocation framework in January 1995:
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Inception
Date |
Annualized
Return Since
Inception |
Annualized
Value
Added |
# of
years |
| The Corporation |
1/1/95 |
9.9 |
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13.25 |
Relative
Benchmark* |
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9.1 |
90 |
13.25 |
| Absolute Benchmark** |
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8.2 |
170 |
13.25 |
| * Relative Benchmark is equal to: Fifty (50) basis points above the rate of return produced by specific market indices representing the asset classes contained in their asset allocation model, with such market indices weighted in accordance with that model.
** Absolute Benchmark is equal to: The value of the Consumer Prices Index, which serves as the proxy for inflation, plus the Spending Rate.
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