Endowment Trustees Report
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1 ET # CD # EBD #13.2 (2016 Midwiter Meetig) Edowmet Trustees Report (Log-Term Ivestmet/Edowmet Fud) Rod Hersberger Seior Trustee Saturday Jauary 9,
2 How Does the Edowmet Work for the Associatio? Movig the Missio Forward! 2
3 Edowmet Returs vs. Spedig/Payout Exhibit #1 Edowmet Returs Caledar 2011: -1.5% Available Spedig/Payout** Fiscal Year 13: $ 936,799 Caledar 2012: 10.5% Fiscal year 14: $1,141,810 Caledar 2013: 17.5% Fiscal Year 15: $1,594,730 Caledar 2014: 7.7% Fiscal Year 16: $1,618,322 Caledar 2015: -0.8%* Fiscal Year 17: $1,745,079*** *Through **A payout rate of 4% for FY13 ad FY14. A payout rate of 5% for FY15-FY17. *** Payout rate recommeded by the Edowmet Trustees ad approved at the fall Executive Board meetig i October
4 Why are Available Edowmet Fuds Importat? - What are they used for? - Exhibit #2 Icreases the amout of $$$ s available for scholarships ad awards - Divisios: $ 46,000 - Spectrum: $187,000 Spectrum Scholarships i FY Approximately 900 sice iceptio Helps support the geeral operatios of Divisios, Roud Tables ad Offices - Geeral Fud: $784,000 - Divisios: $109,000* Supports the Associatio s Missio ad Strategic Directios, as well as, uit iitiatives - $250,000 i FY16 to support improvemets i ALA Iformatio Techology systems *Divisios also trasferred $250,000 from their operatios to their idividual edowmets 4
5 Issues Impactig the Market 3 rd Quarter Federal Reserve raised the Federal Fuds rate by.25 basis poits Ecoomic slowdow i Chia havig a ripple affect o world markets - Slowest growth rate for Chia i six years - Maufacturig activity at lowest level i three years - As the World s biggest importer of may raw materials, commodity prices have plummeted Iteratioal Moetary Fud accepted Chia s Yua ito its elite basket of reserve currecies - Desiged to spur greater liberalizatio of the world s #2 ecoomy - Effective ext October Markets experiecig the highest level of volatility sice 2011 Stock valuatio remai relatively high by historical stadards Exhibit #3 Emergig Markets corporate debt defaults at their highest level sice Exacerbated by the growig stregth of the dollar 5
6 Market Value ad $39,537,981 Exhibit #4 $45,000,000 (-0.8%)* $40,000, % 7.7% $35,000,000 $30,000, % 8.4% 23.8% 12.2% -1.5% 10.5% $25,000, % -24.1% $20,000,000 $15,000,000 $10,000, *Eleve moths edig ad compares to the bechmark retur of 2.3% 6
7 Time Weighted Rate of Retur Exhibit #5 Opeig Cotribu.os Iterest Apprecia.o Closig ROR* ROR* Balace (Withdrawals) Divideds (Deprecia.o) Balace Period Cumula.ve November $ 39,733,656 $ 0 $ 146,036 $ (341,710) $ 39,537,981 (0.48%) (0.84%) October 2015 $ 37,767,659 $ 0 $ 56,731 $ 1,909,266 $ 39,733, % (0.36%) September 2015 $ 38,680,372 $ (8,595) $ 102,953 $ (1,007,072) $ 37,767,659 (2.34%) (5,29%) August 2015 July 2015 Jue 2015 $ 40,656,752 $ 0 $ 51,321 $ (2,027,701) $ 38,680,372 (4.81%) (3.03) $ 40,321,468 $ 0 $ 62,897 $ 272,388 $ 40,656, % 1.88% $ 41,103,356 $ 0 $ 94,315 $ (876,203) $ 40,321,468 (1.90%) 1.04% May 2015 $ 40,962,938 $ 0 $ 56,539 $ 83,879 $ 41,103, % 2.99% April $ 40,629,904 $ 0 $ 52,842 $ 280,192 $ 40,962, % 2.67% March $ 41,857,168 $ (885,474)** $ 90,108 $ (431,898) $ 40,629,904 (0.82%) 1.83% February $ 40,362,294 $ 0 $ 52,116 $ 1,442,758 $41,857, % 2.67% Jauary $ 40,735,091 $ 13,704 $ 29,144 $ (415,644) $ 40,362,295 (0.95%) (0.95%) Total $ 40,735,091 $ (880,365) $ 795,000 $ (1,111,745) $ 39,537,981 NA (0.84%) *Rate of Retur **Represets the quarterly settlemet of activities betwee ALA (Divisio/RT/PPO etc. scholarship & award activities) ad the edowmet. 7
8 World Market Performace - Caledar Year Market Exhibit #6 DAX ML US Broad Market Bods NASDAQ Euro Stoxx -3.6% -3.8% -2.8% S&P 500 Shaghai Comp Nikkei 225 Dow Joes CAC % 0.9% 0.4% 3.0% Hag Seg 1.8% Citi World Big Bods FTSE % 6.5% 9.2% 11.5% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 8
9 Maager Allocatio ad Style Exhibit #7 Maager Value % Lodo Compay - Large Cap Core Merrill Lych Persoal Advisor - (MLPA)* The Edowmet Fud - Alteratives $ 7,137, % $ 18,430, % $ 1,289, % Capital Group - Iteratioal $ 1,699, % Equity Icome & Growth - ETF $ 7,052, % Loomis Sayles - Fixed Icome $ 3,929, % Retur Bechmark Total $ 39,537, % (-0.8%) 2.3% *MLPA is a platform uder which ALA ca access differet maagers i the form of mutual fuds ad ETF s. There are 12 differet maagers i this accout icludig the SRI (Socially Resposible Ivestig) maager Ariel. 9
10 Maager Allocatio ad Style - MLPA Maager Value % Ariel Appreciatio - SRI $ 886, % Goldma SMID $ 1,866, % Pricipal Mid Cap $ 1,891, % Lazard Iteratioal Strategy $ 1,625, % Oakmark Iteratioal $ 1,566, % Ivesco U.S. REIT $ 1,389, % Lord Abbett Floatig & Cash $ 1,699, % Templeto Global Total Retur $ 1,635, % Third Aveue Global Real Estate $ 1,267, % Deutsche Global Ifrastructure $ 1,154, % Double Lie Total Retur $ 1,055, % Eato Vace Bod $ 1,790, % Total $ 17,827, % Exhibit #8 10
11 The Work of the Edowmet Trustees Recet Trustee Actios Exhibit #9 Coducted ew Trustee (2) orietatio with Ivestmet Advisor ad Staff Added two private equity maagers to the portfolio Coducted Ivestmet Advisor Request for Iformatio (RFI) iterviews (5) - Retaied Merrill Lych - Blackstoe Group, LP ($2.0 millio) - KKR & Co, LP*($750,000) - Expect to talk to Carlyle Group i February (NYC) Trustees cocered that edowmet growig from ivestmets returs oly with little iput from doatios or fudraisig efforts - Pla to meet with Developmet Office Director** to discuss possible fudraisig goal Trustees cotiue to meet i NYC to have access to a broader ad deeper pool of available ivestmet talet Cosiderig the ivestmet of a additioal $1.0 millio i SRI asset class - Will deped o impact study prepared by Merrill Lych *Kohlberg, Kravitz ad Roberts **Whe hired 11
12 Thak You 12
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