Investment Committee Reaffirms Long Term Focus
The current bull market in U.S. equities is now the fourth longest in duration (102 months) since 1893. But don’t get complacent! Meeting this week under the chairmanship of Randy Hansell, the Investment Committee reaffirmed the its most important objective: long term investment results consistent with the Foundation’s investment policy statement. A long term average annual real rate of return of 5.4% above inflation as measured by the Consumer Price Index or nominal rate of return of 7.4% is reasonable in light of this policy.