Market commentary and investment performance | Fourth quarter (October-December 2021)
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February 8, 2022
Following the equity dip of late-September and slightly negative Q3, global markets shook off Omicron and inflation fears to post a superb Q4, up almost 8%.
US stocks out-performed international developed and emerging markets. Bonds were again flat for the quarter though slightly negative for the year.
NCCF displayed solid results for Q4 (up 4.8%) and for 2021 (up 13.6%). As January 2022 demonstrated, equities don’t always go up. Long-range return expectations are gloomy, and new uncertainties always rattle the market. But the economy remains strong, and our managers will be much more selective in this type of market.
Last 10 years
Last five years
Last three years
Last year
Overall NCCF (Wtd Avg.)
9.5%
10.7%
15.9%
13.6%
NCCF Investment Fund
8.7%
10.3%
15.6%
13.9%
Other Managers (Wtd Avg.)
9.8%
11.0%
16.1%
13.5%
Broad Policy Index
9.3%
11.3%
15.9%
12.3%
Peer Benchmark
9.2%
10.9%
15.8%
12.7%
Notes: Multi-year percentages are annualized. Returns are net of investment fees. The Broad Policy Index equals 70% of the MSCI All Country World Equity Index and 30% of the Bloomberg Barclays Aggregate Bond Index. The Peer Benchmark is a summary of comparable community foundations (n=100+).
{"tinyMCE_dummy":"","title":"Market commentary and investment performance | Fourth quarter (October-December 2021)","url":"\/blog\/market-commentary-and-investment-performance-fourth-quarter-october-december-2021","meta":{"title":"","description":"","excludeFromSitemap":"No"},"ordinal":999,"content":"<p>Following the equity dip of late-September and slightly negative Q3, global markets shook off Omicron and inflation fears to post a superb Q4, up almost 8%.<\/p>\r\n<p>US stocks out-performed international developed and emerging markets. Bonds were again flat for the quarter though slightly negative for the year.<\/p>\r\n<p>NCCF displayed solid results for Q4 (up 4.8%) and for 2021 (up 13.6%). As January 2022 demonstrated, equities don’t always go up. Long-range return expectations are gloomy, and new uncertainties always rattle the market. But the economy remains strong, and our managers will be much more selective in this type of market.<\/p>\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td> <\/td>\r\n<td>Last 10 years<\/td>\r\n<td>Last five years<\/td>\r\n<td>Last three years<\/td>\r\n<td>Last year<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><strong>Overall NCCF (Wtd Avg.)<\/strong><\/td>\r\n<td><strong>9.5%<\/strong><\/td>\r\n<td><strong>10.7%<\/strong><\/td>\r\n<td><strong>15.9%<\/strong><\/td>\r\n<td><strong>13.6%<\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><em>NCCF Investment Fund<\/em><\/td>\r\n<td>8.7%<\/td>\r\n<td>10.3%<\/td>\r\n<td>15.6%<\/td>\r\n<td>13.9%<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><em>Other Managers (Wtd Avg.)<\/em><\/td>\r\n<td>9.8%<\/td>\r\n<td>11.0%<\/td>\r\n<td>16.1%<\/td>\r\n<td>13.5%<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Broad Policy Index<\/td>\r\n<td>9.3%<\/td>\r\n<td>11.3%<\/td>\r\n<td>15.9%<\/td>\r\n<td>12.3%<\/td>\r\n<\/tr>\r\n<tr>\r\n<td>Peer Benchmark<\/td>\r\n<td>9.2%<\/td>\r\n<td>10.9%<\/td>\r\n<td>15.8%<\/td>\r\n<td>12.7%<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<p><em>Notes: Multi-year percentages are annualized. Returns are net of investment fees. The Broad Policy Index equals 70% of the MSCI All Country World Equity Index and 30% of the Bloomberg Barclays Aggregate Bond Index. The Peer Benchmark is a summary of comparable community foundations (n=100+).<\/em><\/p>","excerpt":"","media":0,"custom":{"blog_author":{"use_alternate_image":"No"},"masthead":{"title":"","counties":"","affiliate_logo":"","sub_text":"","background_image":"","caption":""},"latest_blog":{"post":""},"post_image":{"image":"https:\/\/nmcdn.io\/e186d21f8c7946a19faed23c3da2f0da\/7868d48393ef4e3bb7bca8cdf7bc2f20\/files\/John-Hartley.jpg"},"social_sharing":{"share_image":""},"the_latest":{"show_latest_posts_by":""}},"inMenu":false,"visibleTo":"Everyone","publishedAt":1644356700,"orderChildrenBy":"ordinal","enableComments":false,"permission":"read","id":"d1e3bd2230b34c2aa8291c6151919d8d","parent":"e76aa785e2f140b6a8bdcb322b91b397","node":83613,"created":1644354119,"modified":1644421604,"fresh":1,"type":"post","children":{},"relations":{}}