Investment Overview

The Calgary Foundation has a robust management and governance structure in place to monitor and maintain its primary endowment portfolio. The Foundation’s objective is to earn a real rate of return over the long term that preserves the purchasing power of the endowment, 5.0% over a moving 10-year period. This target is an aggregate of the Foundation’s spending policy rate of 4.0%, which is the amount it grants to charities and spends on charitable activities, and a 1.0% provision for operating cost recovery.

The Foundation recognizes that it must take on some risk to execute its 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 its 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.

Calgary Foundation Target Asset Mix

  • Canadian Money Market 2.9%
    Mawer Investment Management
  • Canadian Bonds 15.4%
    TD Asset Management Inc.
  • High Yield Bonds 5.2%
    Guardian Capital LP
  • Canadian Large Cap Equities 21.1%
    Sionna Investment Managers
    Mawer Investment Management
  • Canadian Small Cap Equities 5.8%
    QV Investors Inc.
  • U.S. Equities 12.2%
    TD Asset Management Inc.
  • E.A.F.E. Equity 13.9%
    Lazard Asset Management
    Mawer Investment Management
  • Emerging Market Equities 5.2%
    Vontobel Asset Management Inc.
  • Real Assets (Real Estate) 6.1%
    LaSalle Investment Management
    Crestpoint Real Estate Investments Ltd.
    Walton Street Capital, L.L.C.
  • Real Assets (Infrastructure) 4.6%
    UBS Global Asset Management
    Partners Group Direct Infrastructure
    New American Bridges
  • Private Equity 7.2%
    Pomona Capital
    GI Partners
    TDR Capital
Calgary Foundation Asset Mix as of Sept 30, 2017

Endowment Portfolio Performance Summary

Annualized Gross Returns, June 30, 2018

Total
Benchmark
1 year
9.3%
7.4%
2 years
10.8%
8.5%
3 years
8.6%
6.9%
4 years
8.6%
6.9%
5 years
10.8%
9.2%
7 years
9.7%
7.9%
10 years
8.0%
5.4%
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Download the latest Endowment Portfolio Performance Report
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