Targets

Asset Allocation Targets

These charts show asset allocation targets for 2008 and 2010 including SMSI targets for each asset class. SMSI targets are shown relative to the asset class itself, and as a percentage of the overall portfolio.

2008 Asset Allocation

It is our intent to reduce Cash in 2008, while focusing on an increase of SMSIs across the various asset classes, increasing SMSIs from 23% to 38%.

2010 Asset Allocation

By 2010, approximately two thirds of our investments will be invested in SMSIs and one third in Other Investments. Our goal, by 2010, is to have a significant portion of all asset classes invested in SMSI's.

Category Allocation Targets

This chart shows the projected percentage growth of all SMSI categories over the next 10 years.

Category Allocation

As of January 2008, SMSIs constitute about 23% of our Foundation’s portfolio. By the end of 2008, our goal is to increase this to 38%, and by the end of 2010 to have 65% invested in SMSIs. Our long-term goal is to invest 85% of our portfolio in SMSIs. The rational for not implementing a 100% SMSI target in the long-term is based on our current assumption that we will not be able to find enough SMSIs to fit into our overall asset allocation strategy.

From 2008 to 2010, Sustainability Investments will grow from 14% to 34%. After that they will decline slightly to about 30% as our portfolio picks up more Mission Related Investments.

From 2008 to 2010, Mission Related Investments will grow from 2% to 11%, about 3% per annum. This growth will continue for another couple of years and then slow down to about 2% per annum. We plan to make at least two additional Mission Related Investments over the next 3 to 5 years and then reassess.

From 2008 to 2010, Program Related Investments will grow from 1% to 5%, about one percent per annum. We anticipate Program Related Investments to continue to grow 1% for the long-term. We will invest in one to two new deals over the next 3 to 5 years and then reassess.

From 2008 to 2010, Social Component Investments will grow from 6% to 15% based on already committed capital after which we predict that the percentage invested in SCIs will remain constant.