Historical Funds Performance—Calendar Year

Month-end | Quarter-end | Calendar Year

 
 

Performance, net of fees 1,2,3

Fund 201620152014201320122011201020092008
Stable Value Fund 1.36% 4.28% 1.90% 2.01% 2.53% 2.90% 3.47% 3.72% 4.41%
Custom Benchmark(4) 0.33% 4.30% 1.91% 2.02% 2.43% 2.87% 3.23% 3.37% 3.97%
Inflation Protection Fund 7.70% -4.99% 2.63% -6.59% 7.74% 8.60% 8.99% 14.09% -7.69%
Custom Benchmark(5) 10.73% -1.72% 4.43% -9.26% 7.26% 13.98% 6.33% 10.49% -1.71%
Fixed Income Fund 5.74% -1.97% 4.30% -0.73% 9.58% 6.13% 8.71% 16.38% 1.37%
Barclays U.S. Universal ex MBS (blend)(6) 4.62% 0.10% 5.40% -1.32% 6.61% 7.86% 7.99% 9.94% -0.69%
Extended Term Fixed Income Fund (7) 5.44% -1.75% N/A N/A N/A N/A N/A N/A N/A
BC U.S. Long Gov't/Credit Bond Index 6.67% -2.50% N/A N/A N/A N/A N/A N/A N/A
Multiple Asset Fund 8.41% -2.56% 4.10% 17.08% 13.76% -1.01% 14.60% 25.80% -26.14%
Custom Benchmark(8) 8.58% -0.90% 5.76% 15.99% 13.35% 0.96% 13.32% 25.09% -27.99%
U.S. Equity Fund 11.53% 0.08% 10.76% 34.29% 15.05% -0.73% 18.09% 23.66% -34.49%
Russell 3000 Index 12.74% 0.48% 12.56% 33.55% 16.42% 1.03% 16.93% 28.34% -37.31%
Equity Social Values Plus Fund 6.97% -1.13% N/A N/A N/A N/A N/A N/A N/A
Benchmark(9) 7.19% -0.11% N/A N/A N/A N/A N/A N/A N/A
International Equity Fund 6.02% -6.46% -5.92% 16.51% 19.67% -15.85% 16.35% 50.48% -46.64%
MSCI ACWI ex US IMI(10) 4.41% -4.60% -3.89% 15.82% 17.04% -14.31% 12.73% 43.60% -45.99%

 

Total Market Value (as of 4/30/17) of all funds managed by Wespath Benefits and Investments (Wespath): $21,944,999,774

1 The inception dates are as follows: Extended Term Fixed Income Fund—5/29/2015; Equity Social Values Plus Fund—12/31/2014; Multiple Asset Fund—04/30/2002; Stable Value Fund—11/30/2002; and Inflation Protection Fund—01/05/2004; for all others the inception date is 12/31/1997.

2 The posted rate of return is for the periods ending on the specified date.

3 Rates of return reflect past performance and are no guarantee of comparable future results. The prices of Wespath investment funds will rise and fall with the value of the investments held in the funds. The units a participant owns may be worth more or less than their purchase price when redeemed. Investment results shown here are after all investment, administrative and custodial expenses.

4 The BofA ML Wrapped 1-5 Year Corp. Govt Index is a custom index that started on December 1, 2002, to coincide with the inception of the Stable Value Fund. This index does not reflect actual performance; performance has been adjusted to represent the assumed rate of return that would have been achieved if the BofA ML 1-5 Year Corp. Govt Index had been wrapped for book value returns. This index has been established and calculated by Standish, is not sponsored or licensed by BofA Merrill Lynch, and is not available for direct investment. The index assumes a 12 basis point annual book value wrap fee from inception to June 30, 2004; 10 basis points from then until December 31, 2008; 15 basis points from then until December 31, 2011; and 20 basis points thereafter. These wrap fee assumptions are Standish' view of the industry's average during these points in time. The Crediting Rate formula applied: CR = (((1+YTM) * ((MV/BV)^(1/D)))-1, where CR is equal to the book value crediting reset rate, YTM is the market yield to maturity of the underlying asset(s), MV is the market value of the underlying asset(s), BV is the book value of the synthetic wrap contract and D is the duration of the underlying asset(s).

5 On January 1, 2016, the benchmark for the Inflation Protection Fund became 80% Barclays World Government Inflation Linked Bond Index (Hedged), 10% Barclays Emerging Market Tradeable Inflation Linked Bond Index (Unhedged) and 10% Bloomberg Commodity Index. From January 1, 2006 to December 31, 2015, the benchmark was the Barclays Capital U.S. Government Inflation Linked Bond (Series B) Index. From April 1, 2005 to December 31, 2005, the benchmark was a blended index based on the following weightings: Barclays Capital U.S. Government Inflation-Linked Bond Index (50%) and Barclays Capital Global Inflation-Linked Bond Index (50%). Prior to April 1, 2005, the benchmark was the Barclays Capital U.S. Government Inflation-Linked Bond Index.

6 On September 20, 2008, Barclays Capital bought Lehman Brothers’ North American investment banking, capital markets and private investments management businesses, thus the performance Benchmark for FIF became the Barclays U.S. Universal Index (excluding mortgage-backed securities). From January 1, 2006 to September 19, 2008, the Benchmark was the Lehman U.S. Universal Index (excluding mortgage-backed securities). From January 1, 2003, through December 31, 2005 the Benchmark was the Lehman U.S. Aggregate Bond Index. Prior to January 1, 2003, the Benchmark had been the Lehman Intermediate Aggregate Bond Index.

7 The 2015 rates of return for the Extended Term Fixed Income Fund and its performance benchmark reflect the year-to-date returns since May 29, 2015 (the fund’s inception date) through December 31, 2015.

8 Prior to January 1, 2006, the benchmark for the Multiple Asset Fund (MAF) was a blended index with weightings as follows: 47% Russell 3000 Index, 15% MSCI EAFE Index, 3% MSCI Emerging Markets Index and 35% Lehman Brothers U.S. Universal Index. On January 1, 2006, the performance benchmark for MAF became a blended index based on the following weightings: 45% Russell 3000 Index, 20% MSCI All Country World Index ex USA IMI, 25% Barclays Capital U.S. Universal Index ex-Mortgage Backed Securities and the 10% Barclays Capital U.S. Government Inflation-Linked Bond Index. On January 1, 2014, the performance Benchmark for MAF became 40% Russell 3000 Index, 25% MSCI All Country World Index (ACWI) excluding USA Investable Market Index (IMI), 25% Barclays Capital U.S. Universal Index ex-Mortgage Backed Securities, and 10% Barclays Capital U.S. Government Inflation-Linked Bond Index. On January 1, 2016, the performance Benchmark for MAF became 40% Russell 3000 Index, 25% MSCI All Country World Index (ACWI) excluding USA Investable Market Index (IMI), 25% Barclays Capital U.S. Universal Index ex-Mortgage Backed Securities, and 10% Inflation Protection Fund (IPF) Custom Benchmark. On January 1, 2017, the performance Benchmark for MAF became 35% Russell 3000 Index, 30% MSCI All Country World Index (ACWI) excluding USA Investable Market Index (IMI), 25% Barclays Capital U.S. Universal Index ex-Mortgage Backed Securities, and 10% Inflation Protection Fund (IPF) Custom Benchmark. The IPF Custom Benchmark consists of 80% Barclays World Government Inflation Linked Bond Index (Hedged), 10% Barclays Emerging Market Tradeable Inflation Linked Bond Index (Unhedged) and 10% Bloomberg Commodity Index.

9 The performance Benchmark for ESVPF is the MSCI World Custom Environmental, Social, and Governance (ESG) Special Weighted Index. The MSCI World Custom ESG Special Weighted Index is comprised of 60% MSCI USA ESG Index and 40% MSCI World ESG (ex US) Index.

10 On January 1, 2008, the benchmark for the International Equity Fund became the MSCI All Country World Index (ACWI) ex USA Investable Market Index (IMI). From January 1, 2006 through 2007, the benchmark was the MSCI ACWI ex USA Index. Prior to 2006, the benchmark was the MSCI EAFE Index.

Wespath investment funds are neither insured nor guaranteed by the government.

 
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