Investment Presentation for YMCA 003954MT YMCA Dilworth Table of - - PowerPoint PPT Presentation

Investment Presentation for YMCA

003954MT YMCA Dilworth

Table of Contents

As of February 17, 2015

Report Page

YMCA Dilworth - IPS Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 YMCA Dilworth - Investment Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 YMCA Dilworth - Component Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 YMCA Dilworth - Investment Performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 YMCA Dilworth - Account Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 YMCA Endowment - IPS Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 YMCA Endowment - Investment Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 YMCA Endowment - Component Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 YMCA Endowment - Investment Performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 YMCA Endowment - Account Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

003954MT YMCA Dilworth

Investment Policy Statement

Effective Date: June 28, 2006

YMCA Dilworth

Investment Policy Statement

Prepared For

Page 1 of 24

003954MT YMCA Dilworth

Investment Policy Statement

Effective Date: June 28, 2006 Investment Strategy: Growth and Income To achieve a balance between growth of capital and current income by using a diversified, multi-asset-class approach. This strategy will consist primarily of equity-related investments, fixed-income investments and inflation hedges. Equity investments will include both domestic and international holdings, each of which may be diversified further by market capitalization and investment style. Fixed-income investments include taxable and/or tax-exempt bonds. Inflation hedges include commodities, real-estate and inflation-linked bonds. Investment Objectives This strategy is appropriate for investors with an intermediate-to-long-term investment horizon who seek a balance between growth and income. Suitability This strategy seeks to achieve its objective with a moderate level of volatility. Asset class diversification may reduce risk and/or enhance returns. Risk Profile

Page 2 of 24

003954MT YMCA Dilworth

Investment Policy Statement

Effective Date: June 28, 2006 Asset Classes Minimum Target Maximum Benchmark Equity 35% 70% 55% Equity Blend (60% Russell 3000 / 40% ACWI Ex US IMI) Fixed Income 10% 55% 32% Fixed Income Blend (80% Barclays Agg / 20% Barclays Global Agg ex-US Unhedged) Inflation Hedges 3% 30% 10% Inflation Hedge Blend (50% Barclays Global ILB / 35% S&P Global Property / 15% DJ-UBS Commodity) Cash & Cash Equivalents 0% 10% 3% Lipper Money Market Funds Index Total Allocation (may not equal 100% due to rounding) 100%

Equity % 55 Fixed Income % 32 Inflation Hedges % 10 Cash & Cash Equivalents % 3

Page 3 of 24

003954MT YMCA Dilworth

Investment Policy Statement

Effective Date: June 28, 2006 Component Accounts 060711-001 PA/INV AGT/COMMUNITY Y FND-DILWORTH 060711-003 WTNA/INV AGT/COMM Y FND-DILW-DRA 060711-005 WTNA INV AGT/COMM Y FND-DILW-CS Investment Restrictions There are no investment restrictions. Income Considerations As of Board meeting on 03/16/12, the income needs remain at $92K. Tax Considerations There are no tax considerations as this is a tax-exempt entity. Liquidity Requirements There are no liquidity requirements.

Page 4 of 24

Current Allocation

30% Large Cap Fixed Income 25% 7% Mid Cap Inflation Hedges 5% 4% Small Cap Hedged Strategies 11% 14% International Cash and Currency 4%

Investment Summary

January 31, 2015

YMCA Dilworth

003954MT

PORTFOLIO SNAPSHOT CURRENT MONTH 1 YEAR SINCE 04/01/2003

Beginning Market Value $2,765,362.51 $2,684,475.74 $1,657,525.63 Contribution/Withdrawals 0.00 (96,000.00) (722,466.38) Net Investment Change (11,225.27) 165,661.50 1,819,077.99 Ending Market Value $2,754,137.24 $2,754,137.24 $2,754,137.24

RATES OF RETURN CURRENT MONTH 1 YEAR SINCE 04/01/2003

Total Portfolio Net of Fees

• 0.4%

6.2% 7.1%

• 0.3%

6.5% 6.8%

1

Policy Benchmark

REALIZED INVESTMENT CHANGE CURRENT MONTH 1 YEAR

Income Received $987.21 $67,392.62

This statement should not be used to prepare tax documents. (1) As of the date of this statement, the Policy Benchmark was comprised of 55% of the Equity Blend (60% Russell 3000 / 40% ACWI Ex US IMI), 32% of the Fixed Income Blend (80% Barclays Agg / 20% Barclays Global Agg ex-US Unhedged), 10% of the Inflation Hedge Blend (50% Barclays Global ILB / 35% S&P Global Property / 15% DJ-UBS Commodity), 3% of the Lipper Money Market Funds Index.

Page 5 of 24

Component Accounts

January 31, 2015

YMCA Dilworth

003954MT

ACCOUNT NAME MARKET VALUE % OF TOTAL ACCOUNT NUMBER

YMCA Dilworth $2,754,137.24 100.0% 003954MT WTNA INV AGT/COMM Y FND-DILW-CS $1,934,172.79 70.2% 060711-005 PA/INV AGT/COMMUNITY Y FND-DILWORTH $819,964.45 29.8% 060711-001 WTNA/INV AGT/COMM Y FND-DILW-DRA $0.00 0.0% 060711-003 Page 6 of 24

Investment Performance

January 31, 2015

YMCA Dilworth

003954MT

ASSET CLASS BENCHMARK CURRENT MONTH 3 MONTHS 10 YEARS ¹ START DATE 5 YEARS ¹ 3 YEARS ¹ 1 YEAR

Total Portfolio Net of Fees 04/01/2003

• 0.4%
• 0.5%

6.2% 7.7% 7.7% 5.7% Policy Benchmark 04/01/2003

• 0.3%
• 0.1%

6.5% 8.4% 8.4% 5.4%

3

Equity 03/01/2003

• 1.8%
• 2.0%

7.7% 12.3% 11.5% 6.5% Equity Policy Benchmark 04/01/2003

• 1.7%
• 1.4%

7.8% 13.1% 11.8% 7.1%

4

Large Cap 03/01/2003

• 2.5%
• 0.4%

15.1% 17.5% 15.4% 7.0% Standard & Poor's 500 Index 04/01/2003

• 3.0%
• 0.6%

14.2% 17.5% 15.6% 7.6% Mid Cap 05/01/2003

• 1.6%

1.2% 13.5%

• 6.6% ²

Russell Midcap Index 05/01/2003

• 1.6%

1.2% 13.7%

• 9.7%

Small Cap 05/01/2003

• 4.1%
• 1.6%

5.3% 16.3% 16.4% 7.8% Russell 2000 Index 05/01/2003

• 3.2%
• 0.4%

4.4% 15.3% 15.7% 7.9% International 05/01/2003 0.6%

• 5.1%
• 1.0%

5.5% 5.3% 4.9% MSCI ACWI ex USA IMI 05/01/2003

• 0.2%
• 2.9%

0.2% 6.8% 5.7% 5.5% Fixed Income 03/01/2003 1.6% 1.1% 2.9% 2.9% 4.5% 5.2% Fixed Income Policy Benchmark 04/01/2003 1.3% 1.5% 4.1% 2.0% 3.9% 4.5%

5

Taxable Bonds 01/01/2004 1.6% 1.1% 2.9% 2.9% 4.5% 5.2% Barclays Capital Aggregate Index 01/01/2004 2.1% 2.9% 6.6% 3.1% 4.6% 4.9% Inflation Hedges 07/01/2005 3.2% 3.2% 10.4% 3.9% 7.1%

• Inflation Hedges Policy Benchmark

07/01/2005 2.8% 2.3% 9.1% 5.0% 7.2%

• 6

Real Estate Investments 07/01/2005 3.2% 5.1% 22.8% 12.0% 17.1%

• S&P Developed Property Index

07/01/2005 4.6% 5.8% 21.0% 15.2% 14.7%

• Hedged Strategies

12/01/2014 0.9%

• Page 7 of 24

Investment Performance

January 31, 2015

YMCA Dilworth

003954MT

ASSET CLASS BENCHMARK CURRENT MONTH 3 MONTHS 10 YEARS ¹ START DATE 5 YEARS ¹ 3 YEARS ¹ 1 YEAR

Directional Hedge 12/01/2014

• 1.1%
• HFRX Global Hedge Fund

12/01/2014

• 0.3%
• Absolute Return Hedge

12/01/2014 4.8%

• HFRX Absolute Return Index

12/01/2014 0.6%

• Cash and Currency

03/01/2003 0.0% 0.0% 0.0% 0.0% 0.0% 1.4% Cash and Currency Policy Benchmark

7

04/01/2003 0.0% 0.0% 0.0% 0.0% 0.0% 1.3% Cash and Currency 03/01/2003 0.0% 0.0% 0.0% 0.0% 0.0% 1.4% Lipper Money Market Funds Index 04/01/2003 0.0% 0.0% 0.0% 0.0% 0.0% 1.3%

(1) Returns for periods greater than 12 months are annualized. (2) Returns may include un-invested time periods. (3) As of the date of this statement, the Policy Benchmark was comprised of 55% of the Equity Blend (60% Russell 3000 / 40% ACWI Ex US IMI), 32% of the Fixed Income Blend (80% Barclays Agg / 20% Barclays Global Agg ex-US Unhedged), 10% of the Inflation Hedge Blend (50% Barclays Global ILB / 35% S&P Global Property / 15% DJ-UBS Commodity), 3% of the Lipper Money Market Funds Index. (4) As of the date of this statement, the Equity Policy Benchmark was comprised of the Equity Blend (60% Russell 3000 / 40% ACWI Ex US IMI). (5) As of the date of this statement, the Fixed Income Policy Benchmark was comprised of the Fixed Income Blend (80% Barclays Agg / 20% Barclays Global Agg ex-US Unhedged ). (6) As of the date of this statement, the Inflation Hedges Policy Benchmark was comprised of the Inflation Hedge Blend (50% Barclays Global ILB / 35% S&P Global Property / 15% DJ-UBS Commodity). (7) As of the date of this statement, the Cash and Currency Policy Benchmark was comprised of the Lipper Money Market Funds Index. (8) Equity returns exclude the performance of any holdings in private equity funds.

Page 8 of 24

003954MT YMCA Dilworth

Account Overview

As of February 17, 2015

57% Equity 24% Fixed Income 5% Inflation Hedges 11% Hedged Strategies 3% Cash & Currency

% of Total Market Value ($) Asset Category Equity 1,622,025.11 57.4 Fixed Income 678,114.05 24.0 Inflation Hedges 140,070.20 5.0 Hedged Strategies 307,835.61 10.9 Cash & Currency 77,282.80 2.7 100% $2,825,327.77 Total: Asset Units Price Tax Cost Market Value % Total Yield

• Est. Income

Equity Equity Funds 1,069.75 $48.62 $50,000.00 1.8% $52,011.15 1.62% AMERICAN EUROPACIFIC GROWTH FUND 2 $844.03 1,100.00 $38.43 $42,241.13 1.5% $42,273.00 2.92% ISHARES GLOBAL ENERGY ETF $1,235.30 1,663.00 $97.02 $127,462.91 5.7% $161,344.26 0.99% ISHARES RUSSELL MID-CAP GROWTH ETF $1,591.49 440.00 $75.68 $26,713.85 1.2% $33,299.20 1.80% ISHARES RUSSELL MID-CAP VALUE ETF $598.40 5,367.00 $115.26 $439,944.74 21.9% $618,600.42 1.32% ISHARES S&P 500 GROWTH ETF $8,184.68 2,656.00 $94.87 $175,670.17 8.9% $251,974.72 2.11% ISHARES S&P 500 VALUE ETF $5,319.97 316.00 $117.61 $28,648.11 1.3% $37,164.76 1.41% ISHARES S&P SMALL-CAP 600 VALUE ETF $524.24 7,168.46 $14.34 $100,000.00 3.6% $102,795.70 1.56% PARAMETRIC EMERGING MARKETS FUND CLASS INSTITUTIONAL $1,605.73 Page 9 of 24

003954MT YMCA Dilworth

Account Overview

As of February 17, 2015

Asset Units Price Tax Cost Market Value % Total Yield

• Est. Income

2,163.78 $31.92 $65,000.00 2.4% $69,067.92 0.00% ROXBURY/HOOD SMALL CAP GROWTH FUND INSTITUTIONAL CLASS $0.00 6,374.00 $39.77 $194,850.05 9.0% $253,493.98 3.51% VANGUARD FTSE DEVELOPED MARKET ETF $8,885.36 $1,250,530.96 $1,622,025.11 57.4% Equity Funds Subtotal: 1.77% $28,789.20 $1,250,530.96 $1,622,025.11 57.4% Total Equity: 1.77% $28,789.20 Fixed Income Taxable Bond Funds 16,350.11 $10.16 $166,992.37 5.9% $166,117.11 2.81% FPA NEW INCOME FUND $4,659.78 20,211.47 $10.91 $220,966.19 7.8% $220,507.18 2.25% METWEST TOTAL RETURN BOND FUND CLASS INSTITUTIONAL $4,951.81 17,196.29 $9.97 $169,712.11 6.1% $171,447.03 1.66% WILMINGTON INTERMEDIATE-TERM BOND FUND INSTITUTIONAL SHARES $2,854.58 $557,670.67 $558,071.32 19.8% Taxable Bond Funds Subtotal: 2.23% $12,466.18 Taxable Bonds 50,000.00 $1.29 $49,687.50 2.3% $64,352.50 6.41% ATLANTIC RICHFIELD CO DTD 02/01/1992 8.250% 02/01/2022 NON CALLABLE $4,125.00 $49,687.50 $64,352.50 2.3% Taxable Bonds Subtotal: 6.41% $4,125.00 Floating Rate Bond Funds 6,306.93 $8.83 $57,300.63 2.0% $55,690.23 4.39% RIDGEWORTH SEIX FLOATING RATE HIGH INCOME FUND I $2,447.09 Page 10 of 24

003954MT YMCA Dilworth

Account Overview

As of February 17, 2015

Asset Units Price Tax Cost Market Value % Total Yield

• Est. Income

$57,300.63 $55,690.23 2.0% Floating Rate Bond Funds Subtotal: 4.39% $2,447.09 $664,658.80 $678,114.05 24.0% Total Fixed Income: 2.81% $19,038.27 Inflation Hedges REIT Funds 4,320.50 $26.05 $110,000.00 4.0% $112,549.10 5.33% FORWARD SELECT INCOME FUND INSTITUTIONAL CLASS $6,001.18 270.00 $101.93 $11,015.46 1.0% $27,521.10 2.85% ISHARES COHEN & STEERS REIT ETF $784.35 $121,015.46 $140,070.20 5.0% REIT Funds Subtotal: 4.84% $6,785.53 $121,015.46 $140,070.20 5.0% Total Inflation Hedges: 4.84% $6,785.53 Hedged Strategies Absolute Return Hedge 9,627.99 $10.84 $108,525.64 3.7% $104,367.40 4.41% AQR MANAGED FUTURES STRATEGY FUND CLASS INSTITUTIONAL $4,602.18 $108,525.64 $104,367.40 3.7% Absolute Return Hedge Subtotal: 4.41% $4,602.18 Directional Hedge 6,800.41 $29.92 $200,000.00 7.2% $203,468.21 1.51% GATEWAY FUND CLASS Y $3,080.58 $200,000.00 $203,468.21 7.2% Directional Hedge Subtotal: 1.51% $3,080.58 $308,525.64 $307,835.61 10.9% Total Hedged Strategies: 2.50% $7,682.76 Cash & Currency Page 11 of 24

003954MT YMCA Dilworth

Account Overview

As of February 17, 2015

Asset Units Price Tax Cost Market Value % Total Yield

• Est. Income

77,282.80 $1.00 $77,282.80 2.7% $77,282.80 0.02% WILMINGTON PRIME MONEY MARKET FUND CLASS SELECT $11.75 $77,282.80 $77,282.80 2.7% Total Cash & Currency: 0.02% $11.75 $2,422,013.66 $2,825,327.77 Grand Total: 2.21% 100% $62,307.51 Page 12 of 24

003953MT YMCA Endowment

Investment Policy Statement

Effective Date: June 28, 2006

YMCA Endowment

Investment Policy Statement

Prepared For

Page 13 of 24

003953MT YMCA Endowment

Investment Policy Statement

Effective Date: June 28, 2006 Investment Strategy: Growth and Income To achieve a balance between growth of capital and current income by using a diversified, multi-asset-class approach. This strategy will consist primarily of equity-related investments, fixed-income investments and inflation hedges. Equity investments will include both domestic and international holdings, each of which may be diversified further by market capitalization and investment style. Fixed-income investments include taxable and/or tax-exempt bonds. Inflation hedges include commodities, real-estate and inflation-linked bonds. Investment Objectives This strategy is appropriate for investors with an intermediate-to-long-term investment horizon who seek a balance between growth and income. Suitability This strategy seeks to achieve its objective with a moderate level of volatility. Asset class diversification may reduce risk and/or enhance returns. Risk Profile

Page 14 of 24

003953MT YMCA Endowment

Investment Policy Statement

Effective Date: June 28, 2006 Asset Classes Minimum Target Maximum Benchmark Equity 35% 70% 55% Equity Blend (60% Russell 3000 / 40% ACWI Ex US IMI) Fixed Income 10% 55% 32% Fixed Income Blend (80% Barclays Agg / 20% Barclays Global Agg ex-US Unhedged) Inflation Hedges 3% 30% 10% Inflation Hedge Blend (50% Barclays Global ILB / 35% S&P Global Property / 15% DJ-UBS Commodity) Cash & Cash Equivalents 0% 10% 3% Lipper Money Market Funds Index Total Allocation (may not equal 100% due to rounding) 100%

Equity % 55 Fixed Income % 32 Inflation Hedges % 10 Cash & Cash Equivalents % 3

Page 15 of 24

003953MT YMCA Endowment

Investment Policy Statement

Effective Date: June 28, 2006 Component Accounts 060711-000 WTNA/INV AGT/COMMUNITY Y FND-ENDOW 060711-002 WTNA/INV AGT/COMM Y FND-ENDOW- DRA 060711-004 WTNA INV AGT/COMM Y FND-ENDOW-CS Investment Restrictions There are no investment restrictions. Income Considerations As per Board meeting on 03/16/12, Income needs going forward are still $10K but only a one time distribution at calendar year end. Tax Considerations This is a tax exempt 501(c) 3 entity. Liquidity Requirements There are no liquidity requirements.

Page 16 of 24

Current Allocation

30% Large Cap Fixed Income 25% 7% Mid Cap Inflation Hedges 5% 4% Small Cap Hedged Strategies 10% 14% International Cash and Currency 5%

Investment Summary

January 31, 2015

YMCA Endowment

003953MT

PORTFOLIO SNAPSHOT CURRENT MONTH 1 YEAR SINCE 04/01/2003

Beginning Market Value $2,942,876.39 $2,781,719.82 $1,343,354.88 Contribution/Withdrawals 0.00 (23,500.00) (82,351.29) Net Investment Change (14,401.81) 170,254.76 1,667,470.99 Ending Market Value $2,928,474.58 $2,928,474.58 $2,928,474.58

RATES OF RETURN CURRENT MONTH 1 YEAR SINCE 04/01/2003

Total Portfolio Net of Fees

• 0.5%

6.1% 7.1%

• 0.3%

6.5% 6.8%

1

Policy Benchmark

REALIZED INVESTMENT CHANGE CURRENT MONTH 1 YEAR

Income Received $1,137.24 $66,743.24

This statement should not be used to prepare tax documents. (1) As of the date of this statement, the Policy Benchmark was comprised of 55% of the Equity Blend (60% Russell 3000 / 40% ACWI Ex US IMI), 32% of the Fixed Income Blend (80% Barclays Agg / 20% Barclays Global Agg ex-US Unhedged), 10% of the Inflation Hedge Blend (50% Barclays Global ILB / 35% S&P Global Property / 15% DJ-UBS Commodity), 3% of the Lipper Money Market Funds Index.

Page 17 of 24

Component Accounts

January 31, 2015

YMCA Endowment

003953MT

ACCOUNT NAME MARKET VALUE % OF TOTAL ACCOUNT NUMBER

YMCA Endowment $2,928,474.58 100.0% 003953MT WTNA INV AGT/COMM Y FND-ENDOW-CS $2,067,425.33 70.6% 060711-004 WTNA/INV AGT/COMMUNITY Y FND-ENDOW $861,049.25 29.4% 060711-000 WTNA/INV AGT/COMM Y FND-ENDOW- DRA $0.00 0.0% 060711-002 Page 18 of 24

Investment Performance

January 31, 2015

YMCA Endowment

003953MT

ASSET CLASS BENCHMARK CURRENT MONTH 3 MONTHS 10 YEARS ¹ START DATE 5 YEARS ¹ 3 YEARS ¹ 1 YEAR

Total Portfolio Net of Fees 04/01/2003

• 0.5%
• 0.5%

6.1% 7.6% 7.6% 5.7% Policy Benchmark 04/01/2003

• 0.3%
• 0.1%

6.5% 8.4% 8.4% 5.4%

3

Equity 03/01/2003

• 1.8%
• 2.0%

7.9% 12.3% 11.5% 6.5% Equity Policy Benchmark 04/01/2003

• 1.7%
• 1.4%

7.8% 13.1% 11.8% 7.1%

4

Large Cap 03/01/2003

• 2.5%
• 0.4%

15.3% 17.6% 15.5% 7.0% Standard & Poor's 500 Index 04/01/2003

• 3.0%
• 0.6%

14.2% 17.5% 15.6% 7.6% Mid Cap 05/01/2003

• 1.6%

1.2% 13.7%

• 6.4% ²

Russell Midcap Index 05/01/2003

• 1.6%

1.2% 13.7%

• 9.7%

Small Cap 05/01/2003

• 4.1%
• 2.1%

5.0% 16.1% 16.3% 7.7% Russell 2000 Index 05/01/2003

• 3.2%
• 0.4%

4.4% 15.3% 15.7% 7.9% International 05/01/2003 0.6%

• 5.2%
• 0.9%

5.5% 5.3% 5.0% MSCI ACWI ex USA IMI 05/01/2003

• 0.2%
• 2.9%

0.2% 6.8% 5.7% 5.5% Fixed Income 03/01/2003 1.2% 1.0% 2.5% 2.7% 4.4% 5.2% Fixed Income Policy Benchmark 04/01/2003 1.3% 1.5% 4.1% 2.0% 3.9% 4.5%

5

Taxable Bonds 01/01/2004 1.2% 1.0% 2.5% 2.7% 4.4% 5.2% Barclays Capital Aggregate Index 01/01/2004 2.1% 2.9% 6.6% 3.1% 4.6% 4.9% Inflation Hedges 07/01/2005 3.2% 3.2% 10.4% 3.9% 7.1%

• Inflation Hedges Policy Benchmark

07/01/2005 2.8% 2.3% 9.1% 5.0% 7.2%

• 6

Real Estate Investments 07/01/2005 3.2% 5.1% 22.9% 12.0% 17.1%

• S&P Developed Property Index

07/01/2005 4.6% 5.8% 21.0% 15.2% 14.7%

• Hedged Strategies

12/01/2014 0.9%

• Page 19 of 24

Investment Performance

January 31, 2015

YMCA Endowment

003953MT

ASSET CLASS BENCHMARK CURRENT MONTH 3 MONTHS 10 YEARS ¹ START DATE 5 YEARS ¹ 3 YEARS ¹ 1 YEAR

Directional Hedge 12/01/2014

• 1.1%
• HFRX Global Hedge Fund

12/01/2014

• 0.3%
• Absolute Return Hedge

12/01/2014 4.8%

• HFRX Absolute Return Index

12/01/2014 0.6%

• Cash and Currency

03/01/2003 0.0% 0.0% 0.0% 0.0% 0.0% 1.4% Cash and Currency Policy Benchmark

7

04/01/2003 0.0% 0.0% 0.0% 0.0% 0.0% 1.3% Cash and Currency 03/01/2003 0.0% 0.0% 0.0% 0.0% 0.0% 1.4% Lipper Money Market Funds Index 04/01/2003 0.0% 0.0% 0.0% 0.0% 0.0% 1.3%

(1) Returns for periods greater than 12 months are annualized. (2) Returns may include un-invested time periods. (3) As of the date of this statement, the Policy Benchmark was comprised of 55% of the Equity Blend (60% Russell 3000 / 40% ACWI Ex US IMI), 32% of the Fixed Income Blend (80% Barclays Agg / 20% Barclays Global Agg ex-US Unhedged), 10% of the Inflation Hedge Blend (50% Barclays Global ILB / 35% S&P Global Property / 15% DJ-UBS Commodity), 3% of the Lipper Money Market Funds Index. (4) As of the date of this statement, the Equity Policy Benchmark was comprised of the Equity Blend (60% Russell 3000 / 40% ACWI Ex US IMI). (5) As of the date of this statement, the Fixed Income Policy Benchmark was comprised of the Fixed Income Blend (80% Barclays Agg / 20% Barclays Global Agg ex-US Unhedged ). (6) As of the date of this statement, the Inflation Hedges Policy Benchmark was comprised of the Inflation Hedge Blend (50% Barclays Global ILB / 35% S&P Global Property / 15% DJ-UBS Commodity). (7) As of the date of this statement, the Cash and Currency Policy Benchmark was comprised of the Lipper Money Market Funds Index. (8) Equity returns exclude the performance of any holdings in private equity funds.

Page 20 of 24

003953MT YMCA Endowment

Account Overview

As of February 17, 2015

57% Equity 24% Fixed Income 5% Inflation Hedges 10% Hedged Strategies 4% Cash & Currency

% of Total Market Value ($) Asset Category Equity 1,718,580.01 57.2 Fixed Income 719,381.07 24.0 Inflation Hedges 146,511.15 4.9 Hedged Strategies 307,835.61 10.2 Cash & Currency 111,078.26 3.7 100% $3,003,386.10 Total: Asset Units Price Tax Cost Market Value % Total Yield

• Est. Income

Equity Equity Funds 1,069.75 $48.62 $50,000.00 1.7% $52,011.15 1.62% AMERICAN EUROPACIFIC GROWTH FUND 2 $844.03 1,405.00 $38.43 $53,760.21 1.8% $53,994.15 2.92% ISHARES GLOBAL ENERGY ETF $1,577.82 1,744.00 $97.02 $133,898.50 5.6% $169,202.88 0.99% ISHARES RUSSELL MID-CAP GROWTH ETF $1,669.01 462.00 $75.68 $28,083.94 1.2% $34,964.16 1.80% ISHARES RUSSELL MID-CAP VALUE ETF $628.32 5,664.00 $115.26 $468,309.28 21.7% $652,832.64 1.32% ISHARES S&P 500 GROWTH ETF $8,637.60 2,802.00 $94.87 $187,643.28 8.9% $265,825.74 2.11% ISHARES S&P 500 VALUE ETF $5,612.41 333.00 $117.61 $30,419.36 1.3% $39,164.13 1.41% ISHARES S&P SMALL-CAP 600 VALUE ETF $552.45 8,243.73 $14.34 $115,000.00 3.9% $118,215.06 1.56% PARAMETRIC EMERGING MARKETS FUND CLASS INSTITUTIONAL $1,846.60 Page 21 of 24

003953MT YMCA Endowment

Account Overview

As of February 17, 2015

Asset Units Price Tax Cost Market Value % Total Yield

• Est. Income

2,324.04 $31.92 $70,000.00 2.5% $74,183.26 0.00% ROXBURY/HOOD SMALL CAP GROWTH FUND INSTITUTIONAL CLASS $0.00 6,492.00 $39.77 $205,346.59 8.6% $258,186.84 3.51% VANGUARD FTSE DEVELOPED MARKET ETF $9,049.85 $1,342,461.16 $1,718,580.01 57.2% Equity Funds Subtotal: 1.77% $30,418.07 $1,342,461.16 $1,718,580.01 57.2% Total Equity: 1.77% $30,418.07 Fixed Income Taxable Bond Funds 19,825.87 $10.16 $202,500.26 6.7% $201,430.87 2.81% FPA NEW INCOME FUND $5,650.37 23,003.71 $10.91 $251,205.07 8.4% $250,970.42 2.25% METWEST TOTAL RETURN BOND FUND CLASS INSTITUTIONAL $5,635.91 20,641.13 $9.97 $204,410.55 6.9% $205,792.09 1.66% WILMINGTON INTERMEDIATE-TERM BOND FUND INSTITUTIONAL SHARES $3,426.43 $658,115.88 $658,193.38 21.9% Taxable Bond Funds Subtotal: 2.24% $14,712.71 Taxable Bonds 1,539.07 $1.05 $1,518.20 0.1% $1,621.55 7.12% GOVT NATL MTGE ASSN POOL #428739 30 YR GTD SINGLE FAMILY MORTGAGE DTD 07/01/1996 7.500% 07/15/2026 $115.43 $1,518.20 $1,621.55 0.1% Taxable Bonds Subtotal: 7.12% $115.43 Floating Rate Bond Funds 6,745.88 $8.83 $61,293.25 2.0% $59,566.15 4.39% RIDGEWORTH SEIX FLOATING RATE HIGH INCOME FUND I $2,617.40 Page 22 of 24

003953MT YMCA Endowment

Account Overview

As of February 17, 2015

Asset Units Price Tax Cost Market Value % Total Yield

• Est. Income

$61,293.25 $59,566.15 2.0% Floating Rate Bond Funds Subtotal: 4.39% $2,617.40 $720,927.33 $719,381.07 24.0% Total Fixed Income: 2.43% $17,445.54 Inflation Hedges REIT Funds 4,516.89 $26.05 $115,000.00 3.9% $117,664.96 5.33% FORWARD SELECT INCOME FUND INSTITUTIONAL CLASS $6,273.96 283.00 $101.93 $11,833.58 1.0% $28,846.19 2.85% ISHARES COHEN & STEERS REIT ETF $822.12 $126,833.58 $146,511.15 4.9% REIT Funds Subtotal: 4.84% $7,096.07 $126,833.58 $146,511.15 4.9% Total Inflation Hedges: 4.84% $7,096.07 Hedged Strategies Absolute Return Hedge 9,627.99 $10.84 $108,525.64 3.5% $104,367.40 4.41% AQR MANAGED FUTURES STRATEGY FUND CLASS INSTITUTIONAL $4,602.18 $108,525.64 $104,367.40 3.5% Absolute Return Hedge Subtotal: 4.41% $4,602.18 Directional Hedge 6,800.41 $29.92 $200,000.00 6.8% $203,468.21 1.51% GATEWAY FUND CLASS Y $3,080.58 $200,000.00 $203,468.21 6.8% Directional Hedge Subtotal: 1.51% $3,080.58 $308,525.64 $307,835.61 10.2% Total Hedged Strategies: 2.50% $7,682.76 Cash & Currency Page 23 of 24

003953MT YMCA Endowment

Account Overview

As of February 17, 2015

Asset Units Price Tax Cost Market Value % Total Yield

• Est. Income

111,078.26 $1.00 $111,078.26 3.7% $111,078.26 0.02% WILMINGTON PRIME MONEY MARKET FUND CLASS SELECT $16.88 $111,078.26 $111,078.26 3.7% Total Cash & Currency: 0.02% $16.88 $2,609,825.97 $3,003,386.10 Grand Total: 2.09% 100% $62,659.33 Page 24 of 24