News for Donor Advisors
Investment Update: Fall 2023
The Foundation’s Long-Term Portfolio posted a positive return for July, but much like the S&P 500, declined in the months of August and September to post a negative return for the quarter. The underlying equity allocations, domestic and international, moved in lockstep starting the quarter strong and then giving back gains to end the period down. The previous quarters helped the portfolio maintain a positive return for the calendar year.
During the quarter, the portfolio was rebalanced to tactical targets, no shifts were made to the equity allocation, and the Foundation maintained its tactical weighting between foreign and domestic equities. Currently the tactical targets of the portfolio recommend a 65% equity allocation split to favor international over domestic, 56% and 44% respectively.
Similar to prior quarters the Investment Management Committee will continue to inform decisions based on the model developed by the South Dakota Investment Council and current economic conditions.
Investment Returns for Period Ending 9/30/2023
| Previous Quarter | - 2.9% |
| Year-to-Date | 5.4% |
Compound Annualized Returns as of 6/30/2023
| Thirty Years | 7.2% |
| Twenty Years | 7.0% |
| Ten Years | 6.6% |
| Five Years | 5.8% |