Since 1982, The Permanent Endowment for Martha’s Vineyard has served as the Island’s community foundation. From an initial gift of $60,000.00 from the Estate of Ruth Bogan, we have grown to assets under management of over $13 million dollars.
MARTHA’S VINEYARD FINANCIAL GROUP (MVFG), a division of the MARTHA’S VINEYARD SAVINGS BANK, manages our endowment fund. We have an excellent working relationship with them. As a local community bank their independence sets them apart from the competition. They have generated superior performance and service levels at a relatively low cost allowing the Endowment to significantly grow our endowment over time. We appreciate the time, effort and guidance that they have provided to the Endowment over many years.
Being independent allows MVFG to select various money managers using an “open architecture” approach. This approach has typically yielded the most appropriate investment opportunities based on historical returns, management quality, longevity, investment style and risk profile. More importantly, it allows them to choose managers with styles that match our institution’s investment goals.
They currently partner with Wright Investors’ Service for the large cap equity portion of our portfolio. Wright Investors’ Service is a Greenwich, CT firm that has provided bank trust departments and independent trust companies with asset management solutions, client support and investment research for over 30 years. Wright is recognized as an outstanding quality provider of investment and financial services worldwide in the markets they serve. Wright Investors’ Services achieves their mission by delivering superior investment performance over full market cycles by investing in quality securities based on superior research. Their staff of equity analysts incorporate both quantitative and qualitative factors that helps identify companies with above-average return potential which should outperform a passive strategy.
MVFG also contracts with Morningstar for research and software they utilize to screen, evaluate, select and monitor the mutual funds and ETF’s that supplement our investment portfolio. For the fixed income component of the endowment fund MVFG utilizes institutional brokerage relationships to obtain fixed income research and to purchase individual fixed income securities.
Current assets graph – updated annually.
* 2014 figures include a pass-through grant to assist in the
Gay Head Lighthouse move.