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The Calgary Foundation's biggest investment is our community investment. Our funds are invested by some of the country’s top financial advisors.
Here are some of the specifics of our approach: Strong policy - The Foundation's staff and Investment Committee continually review and evaluate our formal Statement of Investment Policy to ensure it incorporates relevant research and industry knowledge. A long view - The very long term horizon of an endowment allows us to make decisions based on the long term trends of capital markets, not on their short term variations. Specialty managers - We seek out and use the services of the "best of breed" in each asset class. Then, we actively oversee these professionals to ensure they adhere to our Statement of Investment Policy in their investment activities.
Diversification - Our portfolio is diversified by asset class, sector, equity issuer, debt issuer, term to maturity, management style, region, and so on. The asset mix of TCF’s primary endowment portfolio arising from a recently undertaken asset mix optimization exercise will be 20% Canadian bonds, 5% high yielding securities, 20% large capitalization Canadian equities, 10% small capitalization Canadian equities, 35% global equities, including up to 5% in emerging markets as a tactical allocation, and 10% Canadian real estate. This new structure will be implemented upon completion of TCF’s due diligence in regards to the structure of the mandates and the managers. As of September 30, 2008, the majority of the transition to this asset mix has been completed save for the allocation to Canadian real estate and small capitalization Canadian equities. The asset mix as of this date is 30% Canadian bonds, 5% high yielding securities, 30% large- and mid-capitalization Canadian equities and 35% global equities. Benchmarking - We regularly benchmark the performance of the endowment portfolio against indices and peers. A focus on real rate of return - The purchasing powers of today’s dollars erode over time due to inflation. We therefore measure the performance of The Foundation's portfolio in terms of inflation-adjusted rates of return.
Experience and expertise - Our Investment Committee members are accomplished in their field, and apply their collective experience and expertise to the careful management of the Foundation's endowment |
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