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Endowment Index 1Q 2022 performance update

Wednesday, April 20, 2022
Opalesque Industry Update - The Endowment Index calculated by Nasdaq OMX (Symbol: ENDOW) declined 6.32% (on a total return basis), for the quarter ended March 31, 2022, which compares to a Global 60-40 portfolio which declined 5.62% for the same period.

The top performing component of the Index for Q1 2022 was oil & gas, which gained 38.51%. The other gainers were commodities, metals & mining, publicly traded MLPs, and gold. Private equity was the worst performing component for the Index, posting a loss of -15.73% for the quarter. The other two primary laggards were emerging markets equity - China & emerging markets fixed income, posting losses of -14.64% & -9.17%, respectively.

The Index's annual reconstitution and rebalancing was completed during Q1 2022. The broad allocations between equities, fixed income & alternatives changed slightly, with equities reduced by 2%, fixed income reduced by 1% and the allocation to alternatives increased by 3%.

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 Endowment Index measures performance for a multi-asset, globally diversified, three-dimensional portfolio that includes Global Equity, Global Fixed Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets) The Index applies an objective, rules-based construction methodology based upon portfolio allocation data obtained from over 700 educational institutions that collectively manage over $820 billion as of 6/30/21. Each of the 22 sub-indexes that currently comprise the Index are investable and contained within those sub-indexes are over 48,000 underlying securities.

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