Risk & Return: Yale's Long Term Expectations By Asset Class Yale's endowment report is an incredible resource for investors. One reason it should be required reading for trustees is the excellent discussion on asset classes. In the report, Yale discloses it's long term real-return expectations by asset class. The purpose of including it in this article is to showcase … [Read more...] about Risk & Return = Volatility and Performance
Bird’s Eye View: Michigan
Every month, FoundationAdvocate ("FA") highlights a state by providing a brief overview of its foundations in terms of performance, fees, and asset allocation. Data on Pennsylvania foundations and other states can also be found at Top Ten. The opinions expressed are FA's. Michigan HighlightsPerformance In-Line with National MedianInvestment Expenses Middle of the … [Read more...] about Bird’s Eye View: Michigan
How Are Foundation’s Doing? May 2019 Topic: International a Drag
Every month, Foundation Advocate chooses one topic relating to foundation investment performance to highlight. This month we took a look at how international stock allocations have likely held back foundation performance. Why Haven't Foundations Done Better in this 10 Year Bull Market? Following the financial crisis, the US stock market has been on a pretty great … [Read more...] about How Are Foundation’s Doing? May 2019 Topic: International a Drag
Follow Up: Lilly Endowment is Second Largest in U.S. Ford Drops to Third
This summer we wrote that we believed that the Lilly Endowment would overtake the Ford Foundation in terms of assets, making Lilly the second biggest foundation in the U.S. Our thesis was confirmed recently as Lilly reported total assets of $15.1 billion in its 2018 filing and Ford provided indications that 2018 total assets would come in about $13.2 billion in its 2018 … [Read more...] about Follow Up: Lilly Endowment is Second Largest in U.S. Ford Drops to Third
Lilly Endowment Assets Likely to Surpass Ford in 2018
While it won't be official until we see the IRS filings later this year, it is safe to assume that the Lilly Endowment surpassed the Ford Foundation in total assets in 2018 (and by a considerable amount). We estimate that Lilly finished 2018 at about $15 billion, while even if Ford posts heroic 2018 results of 10% (all major stock indices were negative, bonds were flat, but … [Read more...] about Lilly Endowment Assets Likely to Surpass Ford in 2018