The Diocesan Foundation’s Quarterly Report for the quarter ended March 31st has been posted to its website.
The first quarter of 2022 was a difficult one for all investors as the markets for both stocks and bonds lost money. These market declines caused the Foundation to sustain a loss of $8.6 million or 6.5%. The Foundation’s investment managers underperformed their peer groups and index benchmarks. Total assets declined to $124.3 million.
As explained in the Quarterly Report, asset allocations of three of the Foundation’s model portfolios were changed in mid-February to reduce risk and make the models somewhat more defensive.