Monthly Archives: September 2016

Endowment Index® Ends Positive 3rd Quarter on An Up Note

The Endowment Index® calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,071.75 today, rising from from last Friday's close of 1,070.74.  The index gained 46 points, or nearly 4.5% after beginning Q3 at 1025.71. In addition, the Index reached an all-time closing high on September 7, when it closed at 1,079.74.  The Index began 2016 at 1,000.16. The Endowment Index® represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy® or othe...

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A Macro View – Election Impact on International Equity Markets

After struggling in recent years, international equity markets have been performing well so far this year. Year to date, as of September 29th, developed equity markets, as measured by the MSCI EAFE Index, gained nearly 3%, despite all the problems ranging from negative interest rates to Brexit. Emerging markets equities, as measured by the MSCI Emerging Market Index, did even better, jumping nearly 18%, far exceeding the 7% gain of the S&P 500 Index. However, international equities are facin...

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Endowment Wealth Management Weekly Capital Markets Update for Week Ended 9/30/2016

WEEKLY CAPITAL MARKET HIGHLIGHTS: Among equities, large caps outperformed small caps; growth stocks trailed value stocks; domestic stocks beat international stocks; and emerging markets under performed developed markets. Q3 earnings season is just around the corner. Major US companies are set to report their third quarter earnings results in just a couple of weeks. According to the latest estimate, S&P 500 companies are expected to report a 2.1% decline in earnings for Q3, the sixth co...

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Endowment Wealth Management Weekly Capital Markets Update for Week Ended 9/23/2016

WEEKLY CAPITAL MARKET HIGHLIGHTS: Among equities, small cap continued its strong performance, edging out large cap stocks. Returns were split fairly evenly across large and small caps. Growth and value stocks were more evenly split. International stocks mostly outperformed domestic equities, and emerging markets equities posted strong gains. Commodities gained on the week as oil posted strong gains, and precious metals prices rose following the Fed’s accommodative stance. The yield...

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Endowment Index® Closes Higher For Week Ended 9/23/2016

The Endowment Index® calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,070.74 today, rising from from last Friday's close of 1,054.32. The Endowment Index® represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy® or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index® measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that incl...

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Endowment Wealth Management Weekly Capital Markets Update for Week Ended 9/16/2016

WEEKLY CAPITAL MARKET HIGHLIGHTS: Among equities, large caps outperformed small caps; value stocks trailed growth stocks; domestic stocks beat international stocks; and developed markets under performed emerging markets. Volatility finally returned to the stock market. In stark contrast to the summer, volatility returned to the stock market in September. The S&P 500 Index had sharp intraday swings of more than 1% almost every day. Treasury yields rose slightly: The 10-Year Treasur...

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Endowment Index Posts Decline for Week Ending 9/16/2016

The Endowment Index® calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,054.32 today, falling from from last Friday's close of 1,059.02. The Endowment Index® represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy® or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index® measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that in...

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Real Estate is officially a new Sector

In November 2014, S&P Dow Jones Indices and MSCI Inc. issued a press release announcing the creation of an 11th sector under the Global Classification Standard (GICS) structure. That sector, Real Estate, was implemented last week—marking the first time the GICS structure has been updated since it was created in 1999. Although the impact of this decision will play out over time, it now is clear that Real Estate Investment Trusts (REITs) have found their own home. Formerly housed under Fi...

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Endowment Wealth Management Weekly Capital Markets Update for Week Ended 9/9/2016

WEEKLY CAPITAL MARKET HIGHLIGHTS: Among equities, International – and particularly Emerging Markets – led the charge into positive territory, while U.S. equities had negative returns, post a down Friday where the markets reacted to Fed comments about a possible rate hike. Treasury yields increased toward the end of the week, with longer maturities suffering greater losses than the short end of the curve. The US Dollar strengthened against a basket of major trade partners...

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EWM Macro Recap-August 2016

Domestic equity markets were mostly higher in August, extending a post-Brexit rally. August has often been a high-volatility month that ushers in a difficult seasonal period, but stocks showed few signs of weakening as September approached. Although economic data abroad remains somewhat muddled, the domestic economy is enjoying a somewhat “strong patch,” as various segments have shown signs of strength. Investors seem to have put concerns about Brexit in the rear view mirror – at least for...

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