Foundation reports Sports Park and Highlander funds recovering; Sports Park up ~11% YTD

Barbara Duncan of Clayton Wealth Partners presented the foundation's Sports Park and Highlander fund updates. She said the Sports Park Fund has experienced withdrawals for maintenance but has seen market-driven growth and that the portfolio is invested for the long term with approximately 70% allocated to equities. "Year to date, it's up about 11%," Duncan reported for the Sports Park Fund, and she said the last 12 months were up roughly 23%.

On the Highlander scholarships fund, Duncan said the balance was about $818,000, invested more conservatively; year-to-date performance was about 8% and the past 12 months about 18.5%, with inception annualized averages near 6%.

James (Jim) Wall, chief investment officer, gave a brief 2024 market review, saying inflation and steep Federal Reserve rate hikes shaped the period and that portfolios were positioned to participate in upside while providing downside protection. He cautioned the market may look expensive and that some leading indicators of employment could be softening; Clayton Wealth Partners said it will continue to monitor risks and adjust allocations as needed.

Board members asked whether fund balances reflect deposits or market performance; the presenters said Sports Park growth was mainly market-driven with withdrawals for maintenance, while Highlander received a few deposits for scholarships but also benefited from market returns.