News for Donor Advisors

Investment Update: Winter 2024

graphs and charts

The fourth quarter of 2024 led to much rejoicing, not because of the holidays or the anticipation of the new year, but because the stock market decided to erase October losses and finish the calendar year strong. The S&P 500 posted back-to-back positive months for November and December increasing the annual return to more than 26%.

The Foundation’s Long-term Portfolio mirrored the S&P with a down month in October followed by two positive months to finish the quarter with an 8.61% return. The final quarter helped boost the annual return for the portfolio to nearly 14.5%. Reviewing the underlying investments showed all, with the exception of a few long-dated treasuries, contributed positively to the year-to-date return.

During the quarter, the portfolio was once again rebalanced to tactical targets, had no shifts in its 65% equity allocation, and maintained a tactical weight favoring international equities.

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 12/31/2023

Previous Quarter8.61%
Calendar Year-to-Date14.47%

Compound Annualized Returns as of 12/31/2023

Thirty Years7.28%
Twenty Years6.67%
Ten Years6.13%
Five Years8.09%