The FoundationMark Grantmaker Investment Value Index (“GIV Index”) fell 12.6% in the second quarter of 2022, down 16.5% in the first half.
Commentary
U.S. stocks fell 20% in the first half of 2022, international stocks suffered similar bleak performance. U.S. bonds provided no safe have as they fell over 10% in the first half driven by increased interest rates.
One-Year GIV Index Performance down 11.2%: Year-on-year returns for U.S equities were down 10.6% for the period ended June 30, 2022, and bond prices were down a similar amount.