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Investment Results

Investment Report as of March 31, 2017

Annualized Performance Comparison 1 Year 3 Year 5 Year 10 Year
RACF Domestic Equity Managers
RACF International Equity Managers
17.5%
15.3%
9.0%
0.7%
12.6%
5.0%
7.4%
2.4%
RACF Total Equity Portfolio1
Equity Blended Index2
17.1%
17.6%
6.4%
6.5%
10.1%
10.2%
5.9%
5.3%
RACF Fixed Income Portfolio1,5
Fixed Income Blended Index3
2.6%
2.9%
1.6%
1.4%
1.8%
1.3%
4.3%
3.8%
RACF Alternatives Portfolio1, 5
HFRI Fund of Funds4,5
8.4%
6.2%
2.9%
1.8%
N/A
3.2%
N/A
1.2%
RACF Blended Endowment Portfolio1,5
70% RACF Total Equity Portfolio
20% RACF Fixed Income Portfolio
10% RACF Alternatives Portfolio
13.3%



5.2%



7.9%



5.9%



Endowment Blended Index6 13.4% 5.1% 7.6% 5.0%
Comparative Indexes
90-Day Treasury Bill Index
Barclays Aggregate Bond Index
Wilshire 5000 Equity Index
S & P 500 Composite Index
MSCI EAFE Index
HFRI Fund of Funds Index

0.4%
0.4%
18.4%
17.2%
11.7%
6.2%

0.2%
2.7%
10.0%
10.4%
0.5%
1.8%

0.2%
2.3%
13.2%
13.3%
5.8%
3.2%

0.8%
4.3%
7.6%
7.5%
1.1%
1.2%
Consumer Price Index 2.7% 1.3% 1.4% 1.9%
  1. Performance is net of all investment manager fees currently averaging 0.68% of market value.
  2. Equity Blended Index weights as of 09/1/2011 are 52.5% Wilshire 5000, 12.5% Russell 2000, 26.25% MSCI EAFE and 8.75% MSCI Emerging Markets; as of 12/31/09 they were 55% Wilshire 5000 Index, 15% Russell 2000 and 30% MSCI EAFE Index; as of 11/1/07 they were 75% Wilshire 5000 Index and 25% MSCI EAFE Index; as of 7/1/05 they were 80% Wilshire 5000 Index and 20% MSCI EAFE Index; prior to that the weights were 85% Wilshire 5000 Index and 15% MSCI Stanley EAFE Index.
  3. Fixed Income Blended Index weights as of 12/31/13 are 35% Barclays Capital Aggregate, 15% Merrill High Yield, 20% Citigroup World Govt. Bond, 15% J.P. Morgan GBI-EM Global Diversified Index and 15% Barclays US TIPS; as of 12/31/08 the Fixed Income benchmark was the Barclays Capital Aggregate; as of 7/1/06 it was the Lehman Aggregate Bond Index; prior to that it was the Lehman Govt./Corp Intermediate Bond Index.
  4. Alternative Investment benchmark as of 10/1/2013 is the HFRI Fund of Funds.
  5. As of 10/1/2013, RACF Blended Endowment Portfolio consists of 70% Total Equity, 25% Total Fixed and 5% Total Alternative Investment returns. As of 1/1/2014, we will be invested 70% Total Equity, 20% Total Fixed and 10% Total Alternative Investments.
  6. Endowment Blended Index weights as of 1/1/2014 are 36.75% Wilshire 5000, 18.375% MSCI EAFE, 6.125% MSCI Emerging Markets, 8.75% Russell 2000, 7% Barclays Aggregate, 3% Merrill High Yield, 4% Citigroup World Govt. Bond, 3% J.P. Morgan GBI-EM Global Diversified Index, 3% Barclays US TIPS and 10% HFRI Fund of Funds; as of 10/1/2013 they were 36.7% Wilshire 5000, 18.375% MSCI EAFE, 6.125% MSCI Emerging Markets, 8.8% Russell 2000, 8% Barclays Aggregate, 4% Merrill High Yield, 5% Citigroup World Govt. Bond, 4% J.P. Morgan GBI-EM Global Diversified Index, 4% Barclays US TIPS and 5% HFRI Fund of Funds; as of 9/1/2011 were 36.7% Wilshire 5000, 18.375% MSCI EAFE, 6.125% MSCI Emerging Markets, 8.8% Russell 2000 and 30% Barclays Aggregate; as of 12/31/09 they were 47.5% Wilshire 5000 Index, 22.5% MSCI EAFE Index and 30% Barclays Aggregate Bond Index; as of 11/1/07 they were 52.5% Wilshire 5000 Index, 17.5% MSCI EAFE Index and 30% Lehman Aggregate Bond Index; as of 7/1/06 they were 56% Wilshire 5000 Index, 14% MSCI EAFE Index and 30% Lehman Aggregate Bond Index; as of 7/1/05 the weights were 56% Wilshire 5000 Index, 14% MSCI EAFE Index and 30% Lehman Govt/Corp Intermediate Bond Index; prior to 7/1/05 the weights were 60% Wilshire 5000 Index, 10% MSCI EAFE Index and 30% Lehman Govt/Corp Intermediate Bond Index.

For More Information

You may download our March 2017 Investment Report or our Investment Policy. If you are interested in further information, such as the names of our current investment managers, members of the Investment Committee, and fees charged, please contact Amy Vars, Senior Vice President & Chief Financial Officer.

PHONE 585.271.4100 | FAX 585.271.4292 | racf@racf.org
500 East Avenue, Rochester, NY 14607

PHONE 585.271.4100 | FAX 585.271.4292 | info@racf.org
500 East Avenue, Rochester, NY 14607

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