Osprey Capital Management
April 16, 2021
Summary to April 15, 2021
The overall portfolio, calculated by Morningstar, for the period January 1 – April 15, 2021 advanced 7.09%. The overall equity return was 11.13%: 11.70% for the domestic portfolio and 7.41% for the international. Fixed income lost -2.67%. During this period the Russell 3000 advanced 11.60%, MSCI ACWI ex USA 6.65% and Barclays Intermediate Credit Fund -2.35%. On April 15 there was a $287,000 cash position. Comparing the Easton Episcopal Funds to a universe of actively managed mutual funds tracked by Morningstar that typically have between 50% and 70% of assets invested in equity, which they term Moderate Allocation Funds, the YTD return to April 15, 2021 (7.09%) places the Easton Episcopal Funds in the 37th percentile for this period.
The Board of Managers continues to determine the allocation of all assets of the funds. This strategy follows a passive asset allocation model utilizing indexing. The current asset allocation is approximately 62% domestic equities, 10% international equities and 26% fixed income. The balance is cash. The Portfolio Manager’s Report shows additional detail about tactical and actual allocations.