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SUMMARY OF ENDOWMENT FUND INVESTMENTS
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As is customary, the American Baptist Foundation's Endowment Fund is placed into two types of investments:
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- Fixed income instruments (bonds)
- Equities (stocks).
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The Foundation currently uses PIMCO Total Return III (an institutional mutual fund) and BlackRock Management for fixed income management. They are both socially responsible fixed managers.
The stock portion of the portfolio currently uses three investments:
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- Steinberg Asset Management
- BlackRock Management
- Victory Capital
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The portfolio of these four managers has a combined beta of about .98, compared with a beta of 1.00 of the S&P 500 Index. "Beta" measures volatility; a beta above 1 is more volatile, while a beta below 1 is less.
The blended performance as reflected in the value of a $10,000 investment on January 1, 1997, with dividends/interest reinvested is:
| Date |
Value of $10,000
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| January 1, 1997 |
$10,000
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| December 31, 1997 |
$12,438
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| December 31, 1998 |
$15,313
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| December 31, 1999 |
$17,568
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| December 31, 2000 |
$16,508
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| December 31, 2001 |
$15,710
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| December 31, 2002 |
$13,923
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| December 31, 2003 |
$16,312
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| December 31, 2004 |
$17,816
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| December 31, 2005 |
$18,930
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| December 31, 2006 |
$20,641
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| December 31, 2007 |
$21,857
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| December 31, 2008 |
$16,362 |
| December 31, 2009 |
$19,032 |
If you have any questions, please call the Foundation at 1-800-222-3872, ext. 2035.
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