APPLETON, Wis., April 9, 2019 /PRNewswire/ — Following Q4 2018, which was one of the worst quarters for stocks in recent history, asset prices rebounded and had their best January in more than 30 years. Gains were primarily driven by easy monetary policy announcements by the central banks of China, the Eurozone and the United States. In addition, other factors included the U.S. unemployment rate, which remains near historical lows, and progression in the trade talks between the U.S. and China.
All 19 components of the Index posted a gain in the first quarter. Emerging markets equity-China (+31.0%), domestic real estate (+17.3%), commodities- metals & mining (+15.4%) all posted gains in excess of 15% for the quarter. The worst performing constituent for the quarter was managed futures with a return of +0.2%.
The index was reconstituted and rebalanced in January, with some minor changes to several asset classes. Broad allocations between equities, fixed income and alternatives remained constant. Commodities, managed futures and gold saw their allocations increase while private equity, hedge funds and U.S./international real estate’s allocations were reduced.
Endowment Index™ Q1 2019 Constituent Performance
|Asset Class||Q1 2019 Change (%)||Asset Class||Q1 2019 Change (%)|
|Em. Market Equity- China||31.00||Emerging Mkt Fixed Inc||7.33|
|Domestic Real Estate||17.29||Private Eq-Distressed Debt||6.54|
|US Equity||14.03||Intl Developed Fixed Inc||3.09|
|Commodity-Timber||13.39||Domestic Fixed Inc||2.99|
|Intl Real Estate||13.34||Gold||1.01|
|Commodity-Oil & Gas||13.10||Liquidity-TBills||0.55|
|Intl Developed Equity||10.12||Managed Futures||0.24|
|Emerging Mkt Equity||9.53|
The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or who otherwise incorporate alternative investments within a comprehensive asset allocation. The Index provides an objective tool used for portfolio comparison, investment analysis, and research and benchmarking by fiduciaries, trustees, portfolio managers, consultants and advisers to endowments, foundations, trusts, defined benefit/contribution plans and individual investors.
About the Endowment Index™ calculated by Nasdaq OMX®
The Endowment 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 as of 12/31/2018. 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. Real-time pricing data on the Endowment Index™ can be viewed under the symbol “ENDOW” through major quote providers, including Bloomberg as well as public websites such as Google and Yahoo Finance. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6.
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