News
Positive return experienced in the second quarter continues in third quarter
October 15, 2009 - London Community Foundation announces a positive 6.4% return in the third quarter (June to September 30), and a year to date return of positive 15.1%.
The current value of the community endowment is $41.2M.
Though pleased by the consecutive positive quarter returns, Community Foundation finance director Andrew Chunilall suggests it is still early to predict what the fourth quarter of 2009 will bring and exactly what it means for 2010 community granting.
“There is the possibility of a market decline in the fourth quarter but the good news is that at this point, most endowed funds in our care have recovered and will grant as much or more in 2010 than they granted in 2009.”
In 2008, London Community Foundation granted $2.9M; in 2009 grants totalling a value of $700,000 is expected (total of 2009 grants not available until closing December 31).
For more information on investment management and fund performance, contact:
Andrew Chunilall
Director of Finance
London Community Foundation
t: 519-667-1600 ext 102
e: achunilall@lcf.on.ca