Market commentary and investment performance | Third quarter (July-September 2022)

The third quarter of 2022 ending on Sept. 30 saw further declines across most major global indices and asset classes.  

A typical invested fund with the North Carolina Community Foundation (NCCF) is down about 21% year-to-date, and down 4.5% to 5% in the third quarter. While current conditions are tough, most of NCCF’s investment managers’ returns are in line with the broad and blended benchmarks over the last decade. However, individual fund investment returns will depend upon your fund’s specific investment manager.  

The current environment is certainly challenging, but NCCF and its investment managers understand that a disciplined and balanced approach to allocation is what ultimately drives the healthy long-term returns necessary for achieving our collective philanthropic goals. The important thing to do during this turbulent period is to stay the course through the storm. 

Additional market commentary is available from NCCF’s investment advisor, Graystone Morgan Stanley. For investment information specific to your fund, please contact your NCCF Donor Engagement Officer or by reaching out to support@nccommunityfoundation.org

 1 year3 years5 years10 years
All Managers (Net Weighted)-17.2%3.0%3.6%5.9%
NCCF Investment Fund-16.8%3.3%3.4%5.3%
Other Managers (Average)-17.0%2.8%3.8%6.0%
Broad Benchmark 70/301-18.7%1.9%3.3%5.5%
NCCF Blended Index2-16.9%3.1%4.6%7.0%
Notes: Multi-year percentages are annualized. Returns are net of investment fees.
1 The Broad Benchmark: 70% of the MSCI All Country World Equity Index and 30% of the Bloomberg Barclays Aggregate Bond Index.
2 NCCF Blended Index: 35% R1000, 15% Russell Midcap, 5% R2000, 10% MSCI EAFE Net, 30% Barclays Govt/Credit Bond, 5% FTSE Treasury Bill 3 Month.