For those that have been watching the investment markets, you know that this last year was one that tested our patience. Fortunately the quarter ending September 30showed significant improvement. WCI’s portfolio was no exception – with the rebound, we were able to bring our one-year total return to a positive 5.5 percent, compared to a -12.5 percent one-year return as of June 30.
The Council on Foundations’ 2008 Investment Performance and Practices of Community Foundations reported that the median return of -27.0 percent was the worst annual return in the history of the 18-year survey (200 foundations responded to the survey—representing 47 percent of the community foundations with assets of at least $5 million).
We are hopeful that the rebound experienced in the financial marketplace will also be experienced locally with an increase in business lending and increased hiring of employees. Best advice: hang in there and together we will create a better tomorrow!