Investment Philosophy

We believe sound investing and strategic grantmaking go hand in hand, and our investment philosophy reflects that. We provide donors with the capacity to increase the amount of money they have available for grantmaking while also ensuring their fund’s principal keeps pace with or exceeds the long-term rate of inflation. 

The Foundation relies on our volunteer Investment Committee of leading, local financial experts to oversee our investments and also draws strength and assistance from New York-based Crewcial Partners, a nationally renowned investment consulting firm specializing in large endowments.

Investment performance

The information in the links below illustrate the performance of $100,000 over a 15-year period for our investment pools. Our investment pools returned 14.9% percent year to date as of Dec. 31, 2023.

 

The table below provides annualized percent of return for funds invested in either the GMF Investment Pool or one of our trustee banks compared to the S&P 500 and Morningstar Moderate Allocation Fund. 

Investment returns for the period ending March 31, 2024

 

1 yr

3 yr

5 yr

7 yr

10 yr

15 yr

GMF Investment Pool 

12.0%

2.4%

7.6%

7.6%

6.8%

9.5%

U.S. Bank Trust Pool

15.5%

3.6%

7.6%

7.5%

6.8%

9.5%

BMO Bank Trust Pool 

16.3%

3.1%

7.5%

7.4%

6.6%

9.4%

JP Morgan Asset Management Trust Pool

15.7%

3.7%

8.4%

8.1%

7.3%

10.2%

S&P 500

29.9%

11.5%

15.0%

14.1%

13.0%

15.6%

Morningstar Moderate Allocations

15.2%

4.0%

7.4%

6.9%

6.1%

8.7%

Please note: Investment return is defined as the percentage change in value of the investment over a given period of time, net of investment management fees.

Investment options

With assets over $1 billion as of Dec. 31, 2023, the Greater Milwaukee Foundation is able to provide donors investment options that provide strong investment performance. 

 

GMF Investment Pool

This portfolio includes a diverse mix of equities, fixed income and alternative investments. The goal: to generate highly competitive investment returns that support grantmaking, while ensuring that each fund’s principal growth equals or exceeds the rate of inflation. The table below shows the pool’s target asset mix.

Investment categories

Target asset allocations

Large Cap Equity

13%

Mid Cap Equity

5%

Small Cap Equity

6%

International Equity

16%

Emerging Market Equity

4%

Opportunistic/Special Situations

18%

Alternative investments

21%

Mission Related Investments

5%

Fixed Income

6%

Tips

3%

Global Bonds

3%

 

Trustee Banks

The investment return expectations for our trustee banks mirror those of the GMF Investment Pool. Donors who prefer a permanent relationship with a trustee bank may indicate their preference for one of three trustee bank investment pools:

  • U.S. Bank 
  • BMO Global Asset Management 
  • JPMorgan Chase Trust Pool

Investment committee members

Cory L. Nettles, Chair*
Founder and Managing Partner
Generation Growth Capital, Inc. 

Matt D’Attilio
CIO/Founder, Pegasus Partners  

David Ells
Managing Director-Structured Credit
Ares Management, L.P. 

Thomas W. Florsheim Jr.*
Chairman and CEO
Weyco Group, Inc.

Naryan Leazer*
Financial Adviser
North Star Resource Group.

Gregory S. Marcus
President and CEO 
The Marcus Corporation

Derek Tyus *
Senior Vice President & Chief Investment Officer
West Bend Mutual Insurance Company

Gregory M. Wesley*
Senior Vice President, Strategic Alliances and Business Development
Medical College of Wisconsin
 

*Current Foundation Board members

Consultant 

Mike Miller
Chief investment officer
Crewcial Partners LLC

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