Endowment Index™ Gains for Week Ending 11/29/2019

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,333.45 Friday, increasing 0.47% from the previous Friday’s close of 1,327.22. 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 includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ending 11/22/2019

By Financial Markets & Economy, Weekly Capital Market Updates
  • US equities traded down slightly on the week, following uncertainty in US-China trade talks as a result of tensions in Hong Kong.
  • The yield on the 10-year US Treasury Note declined from 1.83% at the start of the week to 1.77% at the end of the week.
  • The US dollar finished basically flat against a basket of currencies, sliding modestly from 97.99 to 97.91.
  • WTI crude hit its highest level in a month on November 22, trading at $58.68/barrel as of midday Friday.
  • October Federal Reserve minutes were more optimistic, citing easing, yet still elevated, geopolitical risks and trade tensions. Despite having cut the federal funds rate to a range of 1.5% – 1.75% at its late-October meeting, the central bank signaled a pause in rate cuts going forward.

Click here to download the complete weekly report: EWMWeeklyReview 11.25.19

Disclosure: Past performance is not necessarily indicative of future results.

Endowment Index™ Falls 0.32% for Week Ending 11/22/2019

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,327.221 Friday, decreasing 0.32% from the previous Friday’s close of 1,331.51. 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 includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ending 11/15/2019

By Financial Markets & Economy, Weekly Capital Market Updates
  • Stocks in the US were up slightly for the week. Large cap stocks outperformed their small cap counterparts. Meanwhile, value stocks under-performed growth stocks.
  • Short-dated Treasury yields (six months and shorter) fell slightly during the week, while longer-dated Treasury yields fell. Treasuries dated from five to 30 years fell around 10 basis points, leading to a flattening of the yield curve.
  • Developed markets stocks saw slight weakness during the week and under-performed US stocks. Growth stocks outperformed value stocks in developed markets. Emerging market stocks fell, declining by 2% during the week.
  • Volatility was up in markets, as measured by the VIX, which increased more than 7% during the week.
  • Commodity prices were largely lower for the week, led by crude oil, as OPEC indicated it was planning to maintain curbs on crude output throughout next year but would hold off on more aggressive cuts.

Click here to download the complete weekly report: EWMWeeklyReview 11.18.19

Disclosure: Past performance is not necessarily indicative of future results.

Endowment Index™ Gains 0.05%, Extends Weekly Win Streak to 5 Weeks

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,331.51 Friday, gaining 0.05% from the previous Friday’s close of 1,330.80. 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 includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ending 11/8/2019

By Financial Markets & Economy, Weekly Capital Market Updates
  • Global equities traded higher this week, with developed markets posting modestly positive returns and international equities slightly edging out domestic stocks. Emerging markets led the way, up more than 2% on the week. Value outperformed growth across all regions.
  • The yield on the 10-Year U.S. Treasury Note pushed higher over the course of the week, beginning at 1.71% on Monday and finishing the week over 1.90% for the first time since late July.
  • The US dollar traded higher all week against a basket of currencies, riding the momentum of higher Treasury yields,  after depreciating for most of October.
  • Gold suffered its biggest weekly percentage decline in two-and-a-half years, giving up more 3% as deescalating trade tensions between the US and China have helped reinvigorate investors’ appetite for risk.
  • In other economic news, the Labor Department’s JOLTS report (which tracks monthly changes in job openings) fell 3.8% in September to 7.024 million. This is the lowest total since March of last year, and may indicate the trade war with China is beginning to takes its toll on the economy.

Click here to download the complete weekly report: EWMWeeklyReview 11.11.19

Disclosure: Past performance is not necessarily indicative of future results.

Endowment Index™ Gains 0.09%, Increases for Fourth Straight Week

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,330.80 Friday, gaining 0.09% from the previous Friday’s close of 1,329.57. 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 includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ending 11/1/2019

By Financial Markets & Economy, Weekly Capital Market Updates
  • Domestic equities rose for the week, with small cap stocks appreciating the most and growth stocks outpacing value. International equities and emerging markets stocks also ended the week in positive territory but failed to keep pace with their domestic counterparts.
  • Treasury yields across the curve were down through end-of-day Thursday, with shorter-term yields falling more than longer-term yields.
  • The US dollar weakened against a basket of major trade partners’ currencies during the week, as the Federal Reserve cut rates by 25 basis points.
  • Commodities declined for the week, as lower energy prices outweighed the upward move for gold.
  • In other economic news, US gross domestic product (GDP) grew at a rate of 1.90% for the third quarter on continued expenditures from the government and the consumer. Despite the contracting business investment, the US economy grew at a faster rate than most economists expected.

Click here to download the complete weekly report: EWMWeeklyReview 11.04.19

Disclosure: Past performance is not necessarily indicative of future results.

Endowment Index™ Increases 1.07% for Week Ending 11/1/2019

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,329.57 Friday, gaining 1.07% from the previous Friday’s close of 1,315.52. 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 includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

EWM Weekly Capital Market Highlights for Week Ending 10/25/2019

By Financial Markets & Economy, Weekly Capital Market Updates
  • US equities traded higher last week, with small caps up roughly 1.70% and large caps up 1.30%. The S&P 500 Index traded above its all-time closing high early in Friday’s trading. The emerging markets had a strong week as well, up more than 1.30%.
  • The yield on the 10-year US Treasury Note traded in a relatively narrow range this week. It reached a peak of 1.81% early Monday and a low of 1.74% on Wednesday before finishing the week at the upper end of the range.
  • The US dollar traded higher all week against a basket of currencies, reversing a downward trend that had been in place since late September.
  • Gold traded mostly sideways for the first part of the week before a rally on Thursday and Friday pushed prices up more than 1%. The precious metal has traded right around the $1,500 level since early August, after rallying roughly 15% from late-May levels.
  • Oil prices rallied more than $3 per barrel this week after the Energy Information Administration reported a surprise drop in US oil and oil product inventories on Wednesday. Prices have been rising slowly all month after falling from a three-month high in mid-September.

Click here to download the complete weekly report: EWMWeeklyReview 10.28.19

Disclosure: Past performance is not necessarily indicative of future results.