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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) for fixed income management. The fund's portfolio primarily includes government bonds and is a socially responsible fund when selecting the issuing companies for corporate bond holdings.
The stock portion of the portfolio currently uses three investments:
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- Steinberg Asset Management
- BlackRock
- 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, 1996, with dividends/interest reinvested is:
| Date |
Value of $10,000
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| January 1, 1996 |
$10,000
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| December 31, 1996 |
$11,545
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| December 31, 1997 |
$14,360
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| December 31, 1998 |
$17,679
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| December 31, 1999 |
$20,282
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| December 31, 2000 |
$19,058
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| December 31, 2001 |
$18,137
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| December 31, 2002 |
$16,074
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| December 31, 2003 |
$18,832
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| December 31, 2004 |
$20,569
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| December 31, 2005 |
$21,855
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| December 31, 2006 |
$23,830
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If you have any questions, please call the Foundation at 1-800-222-3872, ext. 2035.
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