AFHU_PEF_2021-040622_p2_final

POOLED ENDOWMENT FUND PAGE 1
Dear Friend,
I am pleased to provide you with the December 31, 2021 Annual Report for
AFHU’s Pooled Endowment Fund (PEF).
Your Investment Committee manages and provides oversight for the PEF
consistent with the guidelines provided by AFHU’s Board of Directors. As
part of our responsibilities, we periodically review the PEF’s performance and
reallocate its assets. For the year ending December 31, 2021, the PEF had a
return of 17.5% compared to 18.8% for the year ending December 31, 2020; the
PEF’s assets totaled $810 million at December 31, 2021. The annualized returns
for the prior five- and ten-year periods were 13.4% and 11.0% respectively,
exceeding its benchmark in each period. For the quarter ending March 31, 2022,
the PEF’s preliminary assets totaled $762 million with year-to-date return
of -5.4%.
During the fiscal year 2021 the PEF received contributions totaling $8.8
million and transmitted $24.8 million to the Hebrew University of Jerusalem.
For the fiscal year beginning October 1, 2021, the approved spending rate was
4.00%, which is the same spending rate used in the prior fiscal year.
Thank you very much for your continued interest and support of the
American Friends of the Hebrew University.
Sincerely,
MARC O. MAYER
Chairman, AFHU Investment Committee