SUMMARY OF ENDOWMENT FUND INVESTMENTS

As is customary, the American Baptist Foundation's Endowment Fund is placed into two types of investments:
  1. Fixed income instruments (bonds)
  2. Equities (stocks).

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:
  1. Steinberg Asset Management
  2. BlackRock Management
  3. Victory Capital

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
January 1, 1997

$10,000
December 31, 1997

$12,438
December 31, 1998

$15,313
December 31, 1999

$17,568
December 31, 2000

$16,508
December 31, 2001

$15,710
December 31, 2002

$13,923
December 31, 2003

$16,312
December 31, 2004

$17,816
December 31, 2005

$18,930
December 31, 2006

$20,641
December 31, 2007

$21,857
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.