News for Donor Advisors

The equity markets carried momentum from the second quarter through the first two months of the third quarter. The S&P 500 had monthly returns of 5.64% and 7.19% for July and August, respectively. The index hit a high point on September 1, prior to declining and ending the month down 3.8%, but had an overall positive return for the quarter at 8.93%. The calendar year return flipped positive, posting a return of 5.58% to end the period.

The Community Foundation continues to maintain an equity allocation of 65%, as valuations remain high. The allocation favors value over growth by a weighting of 70/30. Employing a 19% tactical target of cash will position the portfolio well for possible volatility and uncertainty in the months ahead.

The Investment Committee maintains a disciplined approach to investing the Foundation’s assets and continues to review and rely on guidance from the SD Investment Council.

Attendees of our 2020 Donor Reception will receive our “2020 Investment Review,” a booklet detailing our FY20 investment performance and information. If you would like a copy, please contact us at 605.336.7055.