• Inclusion in our professionally managed investment portfolio;
• Higher average investment returns, through economies of scale and greater access to professional investment advisors;
• Simplified investment management and recordkeeping;
• Ability to request disbursements from fund;
• Potential to have fund assets “off balance sheet;”
• An accessible local contact for investment management and fund administration who’s genuinely interested in your success;
• On-line access to fund activity and quarterly statements.

Investment Management:
The Community Foundation of Jackson Hole currently holds forty endowment and similarly invested funds with over $8 million in assets. These investments are managed in accordance with a Board-approved Statement of Investment Objectives and Policies, the Uniform Management of Institutional Funds Act and the Uniform Prudent Investor Act.

The Community Foundation’s Investment Committee works closely with an independent registered investment advisor, The Milestone Group, to achieve agreed upon investment objectives in accordance with our policy. Working with The Milestone Group offers the Community Foundation the following benefits:

• Professional expertise, facilitating prudent fiduciary oversight;
• Access to a greater variety of investment options, improving portfolio diversification;
• Consistent investment policy execution;
• Economies of scale;
• Enhanced investment returns.

Statement of Investment Objectives and Policies Highlights

Primary Investment Objective

Funds are invested with a focus on diversification to minimize risk while seeking to achieve long-term growth.

Target Portfolio Return & Allocation

8% – 9%; based upon a target allocation of 28% cash / fixed income and 72% equity / alternatives.

Although not endowed, Investors Circle funds are included in our endowment portfolio for investment purposes due to the alignment of primary investment objectives. The complete Statement of Investment Objectives and Policies for the endowment portfolio is available upon request.

Investors Circle Fund Administration:
All investment returns accrue to your fund. Investors Circle funds incur a 1.2% annual administrative fee ($3,000 minimum), paid quarterly from the fund to the Community Foundation’s operating fund. The administrative fee percentage is approved by the Board of Directors and is subject to change. Fundholders with minimum balances of greater than $1 million may advise on the selection of an investment manager for their fund. Investment returns are not guaranteed, and the value of your fund will fluctuate. Investors Circle funds are assets of the Community Foundation and subject to the Foundation’s variance power.

About The Milestone Group:
The Milestone Group serves as investment advisor to the Community Foundation. Founded in 1996, The Milestone Group currently manages and advises on over $1.8 billion in assets. Their clients with “Growth” oriented accounts have enjoyed average annualized returns (net of fees) since inception of over 9%, consistently exceeding market benchmarks. The Community Foundation’s key advisors collectively have over thirty years experience in finance and investments, including experience at the $3 billion Rockefeller Foundation and the $10 billion Yale Endowment. The Milestone Group is an SEC registered investment advisor and NASD member based in Denver, Colorado.