Investment Overview

Calgary Foundation has a robust management and governance structure in place to monitor and maintain its primary endowment portfolio.

Calgary Foundation Objective: Earn a real rate of return over the long term that preserves the purchasing power of the endowment, 6.0% over a moving 10-year period. (This target is an aggregate of the Foundation’s spending policy rate of 5.0%, which is the amount we grant to charities and spends on charitable activities, and a 1.0% provision for operating cost recovery).

We recognize that we must take on some risk to execute our strategy, and that there are uncertainties and complexities when investing in capital markets. Accordingly, the Foundation utilizes the expertise of external investment managers that work in accordance with the Foundation’s Statement of Investment Policy to implement our investment strategy. This policy formulates the objectives and principal governance for prudent investment of the endowment and uses a total return strategy that adds capital gains to other potential income sources to achieve the long-term return objective.

View our quarterly performance webcast below.

Calgary Foundation Target Asset Mix

  • Canadian Money Market 2%
    Mawer Investment Management
  • Canadian Bonds 16%
    TD Asset Management Inc.
  • Private Debt 10%
    Alcentra Ltd.
    Crescent Capital
    MGG Investment Group
    Pemberton Asset Management
    Star Mountain Capital
  • Canadian Equities 10%
    Mawer Investment Management
    TD Asset Management Inc.
  • Global Equities 15%
    Mawer Investment Management (International)
    TD Asset Management Inc. (International)
    TD Asset Management Inc. (United States)
  • Global Small Cap Equities 5%
    Arrowstreet Capital
  • Emerging Market Equities 5%
    Phillips, Hager & North Investment Management
  • Real Assets 25%
    Crestpoint Real Estate Investments Ltd.
    Fidelity International
    I Squared Capital
    New American Bridges
    Palistar Capital
    Partners Group Direct Infrastructure
    Stonepeak Partners
    Walton Street Capital, L.L.C.
  • Private Equity 12%
    GI Partners
    Pomona Capital
    TDR Capital
Calgary Foundation Asset Mix as of September 30, 2023

Endowment Portfolio Performance Summary

Annualized Gross Returns, March 31, 2024

1 year
2 years
3 years
4 years
5 years
7 years
10 years
Download the latest Endowment Portfolio Performance Report
Download the latest Endowment Portfolio Performance Report