2022 Endowment Flow

Portfolio positioning and performance

Historical data verifies that asset allocation is the biggest determinant of risk and return. Geisinger’s endowment asset allocation is reviewed and approved by the Finance Committee upon input from the Investment Subcommittee, consultant, and Geisinger leadership. The asset allocation seeks to diversify the portfolio across asset classes to maximize returns within the risk constraints of the funds.

Long-term fund asset allocation (as of December 31, 2022)

Long-term fund asset sub-allocation (as of December 31, 2022)

Long-term fund performance

Endowment returns for the prior one-, three-, five-, and ten-year periods are included in the chart below. Over longer-term time periods including the prior five and ten years, Geisinger’s long-term fund has generated returns that exceed the median of other healthcare operating funds.

[1] Healthcare peer return data provided by Geisinger’s investment consultant Mercer Investments, LLC. Data set reflects the net of fees performance for the Investment Metrics All Healthcare peer group.

Geisinger has maintained historical fund and performance data of the long-term fund since October 1, 2003. Over this 19.25-year period, the endowment has exceeded the policy objective of CPI +4 percent that was in place for most of this period. The hypothetical growth of $1 million is shown in the chart below.

Long-term fund: hypothetical growth of $1 million

Geisinger Health Foundation 40-36

100 N. Academy Ave.

Danville, PA 17822

570-271-6461 stewardship@geisinger.edu