Long-Term Returns Remain Positive

While the market pulled back in September, long-term EEF returns remain positive and better than our benchmark. September was not a good month, though the impact was less than might have been had we not proactively reduced the equity ratio to bring it in line with the policy’s strategic range. For the month we are down 2.79% which puts the EEF in the bottom 20% of the 900-fund universe of similar funds for September. However, for longer periods – QTD, YTD, 1, 3, 5, and 10 years, our returns are positive and better than our benchmark. Quarter-to-date we are in the top 40% and for 1, 3, and 5-year time periods, the EEF remains in the top 30%.