Laserfiche WebLink
<br /> <br />RIIVHWZLWKWKH&LW\¶VPLOOLRQJDLQLQHTXLW\ZLWKWKH/LYHUPRUH$PDGRU9DOOH\:DWHU0DQDJHPHQW$JHQF\ <br /> /$9:0$ 6LPLODUWRWKH:DWHU)XQGWKH&LW\¶VVHZHUUDWHRUGLQDQFHUHTXLUHVWKH&LW\WRLQFUHDVHLWVVHZHUUDWHV <br />WRSDVVWKURXJKWKHLQFUHDVHLQ'656'UDWHVLQRUGHUWRUHPDLQILVFDOO\VROYHQW <br /> <br />6HZHU2SHUDWLQJ)XQG5HVHUYHV <br />,Q1RYHPEHUWKH&LW\&RXQFLODGRSWHGDUHVHUYHSROLF\WKDWUHTXLUHVWKH6HZHU)XQGWRPDLQWDLQPLQLPXP <br />UHVHUYHVHTXDOWRSHUFHQWRIRSHUDWLQJH[SHQVHVWDUJHWUHVHUYHVRISHUFHQWDQGPD[LPXPUHVHUYHVRI <br />SHUFHQW$VRI-XQHWKH6HZHU2SHUDWLQJ)XQGKDGDUHVHUYHGEDODQFHRIPLOOLRQZKLFKHTXDOV <br />SHUFHQWRIWKH6HZHU2SHUDWLQJ)XQG¶V)<EXGJHWHGRSHUDWLQJH[SHQVHVH[FHHGLQJWKHPD[LPXP <br />UHTXLUHGUHVHUYHV6KRXOGXQIRUHVHHQDQGXQDYRLGDEOHHYHQWVRFFXUWKDWUHTXLUHWKHH[SHQGLWXUHRI&LW\UHVRXUFHV <br />EH\RQGWKRVHSURYLGHGIRULQWKHDQQXDOEXGJHWWKH&LW\&RXQFLOPXVWDSSURYHE\5HVROXWLRQDQ\DSSURSULDWLRQV <br />IURPXQUHVWULFWHGQHWSRVLWLRQ <br /> <br />7KH*ROI )XQG¶V QHW SRVLWLRQ LQFUHDVHG E\  PLOOLRQ LQ )<  &KDUJHVIRU VHUYLFHV LQFUHDVHG E\ <br />PLOOLRQPDLQO\GXHWRLQFUHDVHVLQJUHHQIHHVUHFHLYHGIURPPRUHURXQGVRIJROIEHLQJSOD\HG([SHQVHV <br />LQFUHDVHG E\  PLOOLRQ GXH WR DGGLWLRQDO PDQDJHPHQW VHUYLFHFRVWV EDVHG RQ DGGLWLRQDO DFWLYLWLHV DW WKH <br />JROIFRXUVH7UDQVIHUVRXWWRUHSD\WKH*HQHUDO)XQGIRUJROIGHEWUHSD\PHQWDQGWRWKH5HSODFHPHQWDQG <br />5HQRYDWLRQ,QWHUQDO6HUYLFH)XQGWRIXQGUHSDLUDQGUHSODFHPHQWUHVHUYHVGHFUHDVHGE\PLOOLRQRYHUWKHSULRU <br />ILVFDO\HDUIURPPLOOLRQWRPLOOLRQLQ)< <br /> <br />7KH6WRUP'UDLQ)XQG¶VQHWSRVLWLRQLQFUHDVHGPLQLPDOO\E\PLOOLRQLQ)<$OOQHWSRVLWLRQ <br />FDWHJRULHVUHPDLQHGUHODWLYHO\FRQVLVWHGZLWKWKHSULRU\HDU <br /> <br />Fiduciary FundV <br />7KHUHZHUHQRGHVLJQDWHGPDMRUIXQGVLQWKHFiduciary FundsLQ)< <br /> <br />*(1(5$/)81'%8'*(7$5<+,*+/,*+76 <br /> <br />7KHIROORZLQJWDEOHGLVSOD\VWKH*HQHUDO)XQG¶VEXGJHWWRDFWXDOYDULDQFHVIRU)<7KH2ULJLQDO%XGJHW <br />ZDVHVWDEOLVKHGLQ-XQHZKHQWKH&LW\DGRSWHGWKHWZR\HDUEXGJHWIRUILVFDO\HDUVDQG7KH <br />)LQDO%XGJHWZDVDGRSWHGLQ0DUFKZKHQWKH&LW\&RXQFLODSSURYHGWKH)<0LG\HDU%XGJHW$FWXDO <br />UHYHQXHVZHUHJUHDWHUWKDQILQDOEXGJHWE\PLOOLRQRUSHUFHQWDQGH[SHQGLWXUHVZHUHOHVVWKDQILQDOEXGJHW <br />E\PLOOLRQRUSHUFHQW <br /> <br />7KHIXQGEDODQFHRIPLOOLRQLVDQLQFUHDVHRIPLOOLRQRYHU)<$WWKHILVFDO\HDUHQGWKHUHZDV <br />D EXGJHW VXUSOXV RI  PLOOLRQ H[FOXGLQJ XQUHDOL]HG JDLQV IURP LQYHVWPHQWV 7KH &LW\ &RXQFLO DSSURYHG <br />DOORFDWLQJ WKH VXUSOXV <br /> WR WKH *HQHUDO )XQG 5HVHUYH  PLOOLRQ  WKH 0LVFHOODQHRXV&DSLWDO ,PSURYHPHQW <br />3URJUDPV)XQG PLOOLRQ DQGWKH0RELOH2XWUHDFK9HKLFOH3URJUDP5HVHUYH PLOOLRQ  <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />7KH)<\HDUHQGEXGJHWUHSRUWLGHQWLILHGDUHYHQXHVXUSOXVRIPLOOLRQRUPLOOLRQPRUHWKDQWKHPLOOLRQ <br />UHYHQXHVXUSOXVLGHQWLILHGLQWKHIROORZLQJWDEOH7KHPLOOLRQUHSUHVHQWVWKHFKDQJHLQWKHIDLUPDUNHWYDOXHRILQYHVWPHQWV <br />DW\HDUHQGLQDGKHUHQFHWR*$6%6WDWHPHQWZKLFKUHTXLUHVWKH&LW\¶VLQYHVWPHQWVWREHFDUULHGDWIDLUYDOXHLQVWHDGRIFRVW <br />21