The FoundationMark Grantmaker Investment Value Index (“GIV Index”) fell 0.4% in the third quarter of 2021, bringing the year-to-date gain to 8.6% through September 30, 2021.
Commentary
All major indexes were basically flat during the third quarter. U.S. and developed market equities returned +/- less than 1% and bonds barely budged.
One-Year GIV Index Performance Up 18.4%: Year on year returns for U.S equities were 30% for the period ended September 30, 2021, while bonds fell modestly.