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SickKids Foundation Annual Report 2010 - 2011
Related Links
- 2011-12 SickKids Foundation annual report
- 2011-12 SickKids fact book
- 2011-12 SickKids Foundation financial statements
- View our archived annual reports and financial statements
Financials and Investments - Report on Investments
for the year ended March 31, 2011
The endowment funds of SickKids Foundation provide an important base of funding for children’s health research, learning and care at The Hospital for Sick Children. For the year ending March 31, 2011, the Foundation saw a 4.4 per cent increase in the value of its endowment fund to an all-time high of $610.8 million. During the fiscal year ended March 31, 2011, $7.7 million of fundraising revenue was endowed, $7.1 million was recorded in investment earnings, $5.2 million transferred into the fund in accordance with Board Policy and a surplus of $6 million in general surplus was transferred to the Board-endowed funds.
Investment Management
The SickKids Foundation Board of Directors manages the Managed Investment Fund (MIF), with assistance from the Board’s Investment Committee. All investment funds named or otherwise are invested into the MIF. The Investment Committee, which exercises care, skill, diligence and judgment, is tasked with monitoring the performance of the Investment Managers.
Investment Managers
| Century Management | Oldfield Partners LLP |
| Dalton Investments LLC | Overlook Investments Limited |
| Guardian Capital | LP Phillips, Hager & North Investment Management |
| Guggenheim Investment Management, LLC | Sionna Investment Managers Inc. |
| Hoisington Investment Management Company | Sprucegrove Investment Management Ltd. |
| Holowesko Partners Ltd. | Tweedy, Browne Company LLC |
| Mackenzie Financial Corporation |
Investment Philosophy
The investment philosophy selected by the Foundation’s investment Committee and approved by the Board is a long-term, value-oriented approach.
The objective of the MIF is to attain an average annual real total return (net of Investment Managers fees, after Consumer Price index) of at least five per cent over a five-year period and also to be in the top quartile of the RBC Dexia survey.
Investment Returns
| 1 Year | 3 Years | 5 Years | 10 Years | |
|---|---|---|---|---|
| Annualized rate of return | 7% | 9.7% | 8.71% | 8.69% |
| Benchmark* | 10.02% | 3.69% | 3.63% | 5.23% |
| Percentile ranking* | Top 88% | Top 1% | Top 1% | Top 1% |
*versus the RBC Dexia Endowment and Foundation plans universe
Investment Asset Mix
| Fixed Income | Equity | |||||
|---|---|---|---|---|---|---|
| Asset Class | Bonds | Short-Term | Canadian | US | International | Global |
| 2010 Allocation | 17% | 19% | 5% | 14% | 20% | 25% |
| 2011 Allocation | 42% | 14% | 3% | 7% | 12% | 22% |