Bar investments continue to perform

first_img Bar investments continue to perform The Bar’s investment portfolio continues to perform well, and the Investment Committee is embarking on an exhaustive review to help maintain that result.Investment Committee Chair Ian Comisky reported to the Board of Governors last month that for the first 11 months of 2012 the Bar’s long-term portfolio rose by 6.5 percent.“We’re having a good year despite the uncertainty in the market,” he said. “The discipline and diversity of the investments have served us well.”Later in the meeting, the board got a striking example of how well those policies have worked. Audit Committee Chair Clay Schnitker, during his report, noted that Bar assets in the 2010-11 fiscal year rose by $7 million — almost entirely due to returns from investments.Since 1999, Comisky said, the Standard & Poor’s 500 stock index has risen at an average rate of 1.7 percent annually. The Bar’s investments during the same period have averaged 4.7 percent, he said.At the recommendation of its advisors, Comisky said the committee has slightly increased the Bar’s investments in commodities and international stocks. The panel also has begun a comprehensive review of investment policies, including a review of all the funds in which the Bar invests, which could lead to more changes, he said. Bar investments continue to perform January 1, 2013 Regular Newslast_img