OCF's Investment Program
commingles the assets of its permanent charitable funds for investment.
Each individual fund benefits from being part of a large pooled
portfolio providing high quality, diversified investment management
at a reasonable cost.
OCF's Investment Committee oversees the investment
program and makes recommendations to the board of directors regarding
investment policy, strategy, and management. Current members of
the Investment Committee are:
Robert F. Wulf - Chair, Neskowin
George Bell - Lake Oswego
William Berg - Portland
Lyn Hennion - Medford
William Moffat - Wilsonville
Ron Parker - Portland
Richard G. Reiten - Portland
William Rutherford, Portland
Benjamin R. Whiteley - Portland
Loren Wyss - Portland
OCF invests the assets of the long-term investment
pool to achieve high total returns, with a low level of risk.
The current target asset allocation is 45% equities (both domestic
and international), 20% fixed income, 15% marketable alternative
investments, 10% private equity, and 10% inflation hedge investments.
Current managers, chosen to provide a diversity of styles are:
U.S. Equity
Barclays Equity S & P 500 Index Fund
Platte River Capital
Delaware Investments
Gardner Russo & Gardner
Eagle Capital Management
Advisory Research, Inc.
Tygh Capital Management
Steinberg Asset Management
Global Equity
Grantham, Mayo, VanOtterloo
City of London
Dodge & Cox International Stock Fund
State Street Japan Alpha TOPIX Fund
First State Investments Asia Pacific Leaders Fund
Marketable Alternative Assets
Arlington Fund — OCF Series (diversified
portfolio of 24 funds)
Private Capital
Buyout & Venture Capital Funds (15 funds)
Inflation Hedging Investments
Vanguard Energy Fund
Wellington Diversified Inflation Hedges Fund
Wellington Real Estate Securities Fund
Fixed Income
Wells Capital Management
Investment Results
Total annualized returns (net of investment management
fees) for periods ended December 31, 2007, were as follows:
|
OCF |
Median
Foundation Endowment |
| Quarter |
0.5% |
0.3% |
| 1 Year |
13.5% |
11.4% |
| 5 Years |
15.2% |
13.9% |
| 10 Years |
9.1% |
8.9% |
|
Asset Allocation
|
| Equities |
|
|
|
Domestic |
24.5% |
|
|
International |
25.1% |
|
|
|
|
| Total
Equities |
49.6% |
|
|
|
|
| Absolute
Return Strategies |
17.5% |
|
| Fixed
Income |
15.4% |
|
| Private
Equity/Venture Capital |
1.3% |
|
| Energy
and Real Estate Funds |
15.1% |
|
| Cash and Equivalents |
1.1% |
|
|
|
|
| Total
Portfolio |
100% |
|
Fees
OCF, through careful management and use of volunteers,
keeps expenses low while providing high quality services to donors
and grantees. Each OCF fund pays a proportionate share of the
investment management and administrative costs of the Foundation
according to the following annual fee schedule:
|
Administration |
Investment
Management |
Total
Fee |
Permanent
Family or Community Fund:* |
|
|
|
| 1st $2 million |
0.80 |
0.60 |
1.40% |
| $2 to $5 million |
0.50 |
0.60 |
1.10% |
| $5 to $10 million |
0.30 |
0.60 |
.90% |
| Amounts > $10
million |
0.10 |
0.60 |
.70% |
|
|
|
|
Scholarship Fund** |
|
|
|
1st $2 million |
1.25 |
0.60 |
1.85% |
$2 to $5 million |
0.95 |
0.60 |
1.55% |
$5 to $10 million |
0.75 |
0.60 |
1.35% |
Amounts > $10 million |
0.55 |
0.60 |
1.15% |
| |
|
|
|
Endowments for Other Nonprofit Organizations: |
|
|
|
| 1st $1 million |
0.50 |
0.60 |
1.10% |
| Next $4 million |
0.20 |
0.60 |
.80% |
| Amounts > $5 million |
0.10 |
0.60 |
.70% |
|
|
|
|
Short-term
Funds: |
0.85 |
|
.85% |
| |
|
|
|
| *Permanent family or community funds that award
scholarships are assessed an additional fee for scholarship
administration. |
|
|
|
|
**OCF administrative fee is adjusted for
scholarship funds that make annual awards greater than
or less than OCF’s 4.5% payout rate. |
|
|
|
