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Meeting Information

PRELIMINARY ENDOWMENT FUND HIGHLIGHTS

 


HIGHLIGHTS FOR PERIODS ENDING SEPTEMBER 30, 1997

MANAGER DETAIL

MKT VAL ($THOUS)

ASSET ALLOCATION

PERFORMANCE RESULTS

EQUITIES

Sep 97

Jun 97

Equity

Fixed

Cash

1 Mo

Qtr

CYTD

1 Yr

3 Yr

5 Yr

10 Yr

SI

S&P SI

Core Equity Fund

John W. Bristol

168,483

161,190

86.8

1.0

12.2

4.0

5.0

22.0

32.0

25.1

19.2

14.6

17.5

17.2

GMO Value

184,717

169,917

66.9

10.8

22.4

3.1

8.9

17.8

27.8

20.4

18.6

13.8

16.3

16.6

Invesco Capital Management

90,209

84,819

96.7

3.3

5.9

7.0

26.9

37.9

27.8

21.1

17.7

19.4

17.9

Total Domestic Equity

443,409

415,925

80.5

4.9

14.6

4.0

7.0

21.1

31.3

23.5

19.1

14.5

GMO Foreign Fund III

85,892

85,686

100.0

6.2

4.1

17.8

26.0

15.0

18.2

15.0

18.3

GMO Emerging Markets

38,696

30,575

100.0

4.6

2.5

28.2

2.7

3.0

7.9

23.6

GMO Emerging Country Debt

2,466

2,333

100.0

5.0

15.3

37.2

37.2

29.6

Total International Equity

127,055

118,594

98.1

1.9

5.7

3.1

17.4

24.0

11.9

9.7

23.1

UVA Managed

2,935

2,484

100.0

Core Equity Cash

0

300

100.0

Total Core Equity Fund

$573,400

$537,303

84.5

4.2

11.3

4.3

6.1

20.2

29.4

20.9

17.7

65% S&P/35% MSCI Ex-Us

5.5

4.7

23.0

30.8

22.6

17.8

Satellite Equity Fund

SC Fundamental Value

36,138

34,514

100.0

2.4

4.7

17.2

25.5

14.2

16.0

21.1

Bennett Restructuring

15,872

14,872

100.0

1.4

6.7

8.4

13.1

15.4

18.7

21.2

OCM Real Estate

3,675

0

100.0

0.0

-2.6

-2.6

7.6

OCM Opportunities Fund

0

100.0

Rothschild Recovery Fund

0

100.0

Vega Partners II

14,480

14,274

100.0

0.0

1.5

2.7

8.1

10.1

9.2

21.3

Chesapeake Partners

37,641

34,897

100.0

1.9

7.9

21.0

27.2

22.0

19.6

23.9

Davidson Kempner Inst. Partners

24,442

23,929

100.0

1.4

2.2

5.8

9.0

10.6

30.9

EnCap Energy Capital

118

0

100.0

0.0

R. Chaney & Partners

2,231

2,000

100.0

0.0

4.9

4.9

Jefferson Capital Partners I

416

100.0

0.0

Spectrum Equity Investors II

1,764

1,542

100.0

0.0

-5.1

-7.1

21.1

WCAS Capital Partners

1,263

0

100.0

1.1

1.1

-0.4

Venture Capital

26,242

24,835

100.0

0.0

5.5

-6.0

-6.8

30.4

19.6

19.5

17.8

Satellite Equity Cash

591

0

100.0

Total Satellite Equity Fund

$164,876

$150,863

98.9

0.8

0.4

1.3

6.1

10.4

13.9

15.4

16.0

S&P 500

5.5

7.5

29.6

40.4

29.8

20.7

14.7

Wilshire 5000

5.9

9.8

29.1

38.0

28.4

20.6

14.3

MSCI World EX-US

5.6

-0.4

10.8

13.0

9.2

12.5

5.9

Combined Equity Funds

$738,275

$688,166

87.7

3.4

8.9

3.8

5.7

17.3

24.9

19.4

16.8

REAL ESTATE

Sep 97

Jun 97

Equity

Fixed

Cash

1 Mo

Qtr

CYTD

1 Yr

3 Yrs

5 Yrs

10 Yrs

SI

Bench SI

Shorenstein

22,740

19,803

100.0

0.6

17.4

21.6

25.0

15.6

13.3

14.1

Shorenstein Two

20,271

17,778

100.0

0.8

14.6

20.5

21.1

9.5

21.3

TA Associates

19,871

19,871

100.0

0.0

2.0

11.3

13.4

8.9

7.2

15.0

Security Capital

37,770

27,063

100.0

39.9

40.4

43.1

69.8

31.1

26.8

17.3

Brookdale

7,034

7,081

100.0

0.7

1.9

5.9

8.1

8.6

20.4

Brookdale Two

3,517

1,573

100.0

1.0

1.0

4.2

4.2

15.9

Real Estate Cash

0

32

100.0

Total Real Estate Fund

$111,203

$93,201

100.0

0.0

0.0

11.1

19.3

24.9

32.5

17.4

50% S&P 500/50% LBGC

3.6

5.5

18.0

25.0

19.6

13.8

FIXED INCOME

Sep 97

Jun 97

Equity

Fixed

Cash

1 Mo

Qtr

CYTD

1 Yr

3 Yrs

5 Yrs

10 Yrs

SI

LBBC SI

Bond Fund

Fiduciary Trust Global

65,820

65,216

96.0

4.1

1.5

2.6

6.2

9.6

9.8

8.6

8.5

Bond Fund

62,915

56,762

100.0

0.0

1.9

3.8

6.8

10.1

9.9

6.9

10.0

9.3

Faculty Mortgage

7,947

8,404

100.0

0.6

2.0

6.5

8.5

8.2

8.3

8.8

9.4

Riverside Capital

2,243

12,256

21.3

73.5

5.2

-0.2

1.8

6.9

7.5

7.5

10.1

Bond Fund Cash

597

0

100.0

Satellite Bond Fund

RTL Partners

12,086

11,930

100.0

0.6

1.3

5.1

7.8

9.0

9.0

Churchill Capital

3,583

2,366

100.0

0.2

-2.0

-8.4

5.7

Total Satellite Bond

$15,669

$14,296

0.0

100.0

0.0

0.5

0.6

3.4

6.0

LB Gov't/Corp Bond Index

1.6

3.5

6.3

9.6

9.4

6.9

9.4

LB Aggregate Bond Index

1.5

3.3

6.5

9.7

9.5

6.9

9.5

Combined Bond Funds

$155,191

$156,935

0.3

97.5

2.2

1.5

2.3

5.7

8.7

8.9

6.6

Pooled Endowment Fund Cash

$5,066

$27

100.0

TOTAL POOLED FUNDS

$1,009,736

$938,329

NOTES: Total fund returns include performance history for terminated managers. The total includes assets invested by University-related foundations, for charitable remainder trusts, and for deferred compensation. Under Performance Results, "SI" indicates return since inception.

PRELIMINARY ENDOWMENT FUND HIGHLIGHTS FOR PERIODS ENDING SEPTEMBER 30, 1997

 

MKT VAL ($THOUS)

Asset Allocation

PERFORMANCE RESULTS

Sep 97

Jun 97

Sep 97

Jun 97

Target

1 Mo

Qtr

CYTD

1 Yr

3 Yr

5 Yr

10 Yr

20 Yr

POOLED ENDOWMENT FUND

Core Equity Fund

560,002

523,777

56.3

56.8

45.0

4.3

6.1

20.2

29.4

20.9

17.7

Satellite Equity Fund

164,876

150,863

16.6

16.3

25.0

1.3

6.1

10.4

13.9

15.4

16.0

Real Estate Fund

111,203

93,201

11.2

10.1

10.0

11.1

19.3

24.9

32.5

17.4

Bond Fund

137,501

140,756

13.8

15.3

20.0

1.6

2.4

6.0

9.0

8.9

6.6

Satellite Bond Fund

15,669

14,296

1.6

1.5

0.0

0.5

0.6

3.4

6.0

Pooled Endowment Cash Account

5,066

27

0.5

0.0

0.0

Total Pooled Endowment Fund

$994,317

$922,919

100.0

100.0

100.0

Pending Funds

$7,239

$2,211

Less: Foundations & Def. Comp

($23,485)

($22,534)

Total Pooled Endowment Assets

$978,072

$902,595

4.1

6.7

16.2

23.0

17.5

15.1

12.5

14.9

75% S&P 500 / 25% LBGC

4.5

6.5

23.8

32.7

24.7

17.3

13.4

14.7

Custom Benchmark

3.2

4.0

14.9

19.9

CPI + Spending

0.6

1.6

5.0

7.2

7.2

7.2

7.8

9.8

WHITE BURKETT MILLER

American National Bank

$13,756

$12,844

3.8

7.8

26.3

33.6

24.6

16.5

Equity

9,642

10,023

70.1

78.0

75.0

4.8

9.1

33.0

42.3

30.4

19.9

Fixed Income

3,537

2,472

25.7

19.2

25.0

1.7

3.7

6.8

9.6

10.2

7.9

75% S&P 500 / 25% LBGC

4.5

6.5

23.8

32.7

24.7

17.3

UVA ADMINISTERED

$46,230

$46,163

TOTAL ENDOWMENT

$1,038,058

$961,603

Equity

Fixed

Cash

CURRENT FUNDS

$136,009

$131,373

85.4

14.6

1.0

1.6

4.5

6.5

6.6

5.1

60% T-Bills / 40% ML 1-3 Yr

0.6

1.6

4.4

5.9

6.1

5.0

Common Fund Short Term

P E Fund:

Market Value

1,454.8811

1,372.9784

S & P 500

5.5

7.5

29.6

40.4

29.8

20.7

14.7

16.4

Inc - Accrued YTD

9.2246

35.8946

LB Gov't/Corp

1.6

3.5

6.3

9.6

9.4

6.9

9.4

9.6

Inc - Annual Target:

MSCI World EX-US

5.6

-0.4

10.8

13.0

9.2

12.5

5.9

14.1

Class A Shares

53.2100

51.1600

CPI-U (8/31/97)

0.2

0.4

0.3

2.2

2.6

2.7

3.5

4.9

Class B Shares

72.0100

69.2400

91 Day T-Bills

0.4

1.3

4.0

5.3

5.5

4.7

5.7

7.7

ML 1-2.99 Yr Govt

0.8

2.0

4.9

6.9

6.9

5.4

7.5