News for Donor Advisors

Investment Update: Summer 2023

graphs and charts

Posting back-to-back positive quarters, the Foundation’s Long-Term Portfolio ended its fiscal year on a strong note. With all asset classes posting gains for the calendar year to date through June 30, 2023, the Portfolio returned 8.60% for the period. Tactical targets remained unchanged during the quarter. Equity, cash and fixed income targets were 65%, 14%, and 21%, respectively. International equities continue to be favored compared to domestic equities.

The Investment Management Committee continues its disciplined management, rebalancing the portfolio as necessary and informing decisions based on the South Dakota Investment Council model.

Investment Returns

For Periods Ending June 30, 2023 (net of fees):

Previous Quarter3.2%
One Year9.2%

Long-Term Portfolio Investment Returns

For periods ending June 30, 2023 (net of fees):

30 years*:7.2%
25 years*:6.0%
10 years*:6.6%
5 years*:5.5%

A note for Endowed Fund Holders: Based on this investment update, we’re pleased to share our Board has again recommended a 4% spend rate.

* Compound Annualized Returns