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June 2015 Investment Office Update
In June, the Greek debt crisis dominated headlines, and equity markets tumbled as investors braced for a potential Greek exit from the Eurozone. China's local A-Share market experienced a rout, declining 17% from its intra-month peak. Meanwhile, Puerto Rico announced the possibility that it would default on its debt, causing bond markets to sell off significantly and leaving investors with little reprieve.
Investment Performance Through June 30, 2015
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Endowment %
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S&P 500%
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Endowment Strategic Policy Portfolio BM(1)
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80/20%
| | June 2015 |
-0.90%
| -1.94% | -0.91% | -1.77% | | FYTD 2015 |
4.00%
| 7.42% | 4.47% | 6.37% | | CYTD 2015 |
3.09%
| 1.23% | 3.14% | 1.03% | | 3 Yr AACR |
7.72%
| 17.31% | 10.85% | 14.12% | | 5 Yr AACR |
8.15%
| 17.34% | 10.66% | 14.56% |
1] From inception to present: 40% MSCI ACWI, 10% HFRI Fund of Funds Composite Index, 10% Russell 3000 + 300bps, 10% HEPI + 500bps, 10% NCREIF ODCE +200bps, 10% Barclays Aggregate Bond, 5% BofA ML HIGH YIELD MASTER II + 200bps, 5% BofAML 3-MONTH US T-BILL
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 Two local developers in Salisbury have donated a historical building worth $4.4 million to Salisbury University, which will go a long way in helping the school create a stronger presence in downtown Salisbury. A working group at Salisbury will develop a plan for the building that supports the needs of the university and encourages downtown revitalization, investment, and growth. Donors Palmer Gillis and Tony Gilkerson each have ties to Salisbury University, with Gillis receiving his B.S. in Business from the university in 1975 and Gilkerson being the father of two graduates from Salisbury's Franklin P. Perdue School of Business. The donation will be processed through the Salisbury University Foundation and must be approved by the USM Board of Regents prior to acquisition.
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The University of Baltimore School of Law and the University of  Maryland Francis King Carey School of Law have partnered to create a new legal incubator program. The incubator will help five or six recent graduates begin their private practices by offering guidance and resources such as office space and malpractice insurance, while Maryland clients can receive low cost or pro bono services in return. Participants will have a year to 18 months to get their practices up and running, and the schools hope to begin the incubator in November, once graduates have had an opportunity to pass the bar exam.
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A U.S. Department of Education grant intended to help first-generation college students was recently awarded to thirteen Maryland colleges, including USM institutions Bowie State University; University of Maryland, College Park; Frostburg State University; and Salisbury University. The funds are meant to help schools provide academic tutoring, help in selecting courses, information about financial aid, and support in transferring from two-year to four-year colleges to first-generation students. They can also be used for counseling and career guidance, housing assistance during breaks, and cultural events. Other recipients of the grants include USM Foundation partners Allegany College of Maryland, Community College of Baltimore County, Howard Community College, and Hagerstown Community College.
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