Investments


Balancing mission and fiduciary responsibility

Performance

Select a year to see its investment performance
2014
2015
2016
2017
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Investment Principles

Learn More
  1. Central Objective
  2. Relational Objectives
  3. Stewardship
  4. Leadership in Context

Investing is integral to our mission

  • The full realization of our mission requires the consideration of our values in all investment decisions. The expression of our mission through investment decision-making takes many forms; for example, we challenge conventional definitions of risk and return. We cultivate a broad view of risk which includes the consideration of unique factors such as risks of misalignment with our charitable purpose, risks to the continuation of grant making without interruption and risk that our investments could contribute to problems that we try to address through grant making.
  • Our mission is place-based; thus, Mission Related Investing means making capital investments with a positive numeric return in Oregon and the Pacific Northwest.

We invest our assets to optimize returns

This means:

  • Asset allocation is the main driver of long-term risk and return. Our long-term investment horizon is an advantage and a responsibility.
  • Grant making influences asset allocation.
  • Investing in multiple asset classes diversifies overall risk.
  • Risk and return cannot be captured solely through traditional quantitative measures; but the factors that we consider should be identified and measured where possible.
  • True optimization of returns demands the consideration of environmental, social and governance factors.
  • Markets can be inefficient and active managers can add value over benchmarks; but for some asset classes, a passive approach may be most appropriate and cost-effective.
  • Private assets can provide a material return premium relative to public equity.
  • An informed and disciplined process will drive continued investment success.
     

Investing our assets requires good relationships

  • We respect and appreciate individual perspectives so; our board of trustees makes decisions by consensus.
  • Relationships with our partners and their investment professionals matter; regardless of the legal or operating formalities — first and foremost, we invest in people.
  • Our investment approach demands non-traditional skills and diverse points of view.
  • Manager selection is critical to financial success and is an important tool in the pursuit of race and gender equity.

Responsible management requires clarity, expertise and adequate resources

  • Costs matter and need to be effectively controlled and managed.
  • Strong governance and a well-defined decision-making structure enable sound investment.
  • Unfiltered and regular assessment of performance is required for success, accountability and field leadership.
  • We are transparent about our investment portfolio; some of our decisions will be made mindful of mission realization while others may be more focused on financial performance; however, in all cases, we use our best judgement and are willing to acknowledge tension or dissonance with our mission, values and beliefs.

Catalyzing change is a team effort

  • Traditional investment strategies can only evolve with long-term investment, the taking of measured risk and the acceptance of failure as a part of leadership.
  • Meaningful advancement of our mission through investment will require visible leadership and a long-term, collaborative effort.

Investment Philosophy

Types of Investments in 2017

General
General
74.00
These funds are invested with the primary purpose of optimizing long-term, risk-adjusted returns with a high degree of professional integrity.
SRI
Socially Responsible Investments (SRI)
22.00
These funds are invested with specific environmental social or governance objectives or outcomes in mind while still optimizing long-term, risk-adjusted returns.
MRI
Mission Related Investments (MRI)
4.00
These investments work to build assets, wealth and opportunity by promoting good jobs and financial growth in the Pacific Northwest.