Investment Strategies
We are updating our investment offerings to better reflect the evolving needs of our donors and MCF's position as one of the largest community foundations in the country.
The new strategies were developed by MCF in conjunction with our new investment advisor, Cambridge Associates, and will launch on April 1, 2026. All donor funds will be transferred automatically from the existing pools into the new strategies on April 1 and the existing pools will cease to exist.
The updated investment strategies are designed to provide donors with flexibility to meet diverse grantmaking objectives, wide-ranging time horizons and varying tolerance for market fluctuations. Consistent with our longstanding approach, the strategies will offer regular liquidity to fund donor grantmaking.
The Strategies
Cornerstone Strategy
Seeks to grow assets and preserve long-term purchasing power.
Invests in a well-diversified mix of public and private equity, alternatives and real assets that provide diversification and help reduce market volatility, fixed income and cash
Best fit for most MCF donors as MCF's flagship strategy. Also the strategy for permanent endowments
- Grantmaking horizon: 2 more years
Northstar Strategy
Prioritizes values-alignment while also seeking to grow assets and preserve long-term purchasing power.
Invests in a well-diversified mix of public equity, alternatives that help reduce market volatility, fixed income and cash
Best fit for donors who place a priority on values-aligned investing
- Grantmaking horizon: 2 or more years
Balanced Strategy
Strives to balance growth and stability for donors with lower tolerance for market fluctuations.
Invests 50% in a passive global quity index fund and 50% in a passive fixed income index fund
Best fit for donors willing to accept less growth potential in exchange for lower volatility
- Grantmaking horizon: 2 or more years
Short-Term Strategy
Preserves principal and provides liquidity for nearer-term grantmaking.
- Invests in a money market funds or similar structures with attention to high liquidity, high quality and low fees
Best fit for donors who expect to make significant grants in the shorter term
- Grantmaking horizon: Up to 2 years
CommunityFirst Loan Fund Strategy
Seeks to build on its 20-year record of achieving direct impact in Marin by supporting local non-profits via low-cost loans.
Invests in loans to non-profit organizations within Marin County
Best fit for donors seeking to align investments with values and community, as a complement to donors' primary strategy
- Grantmaking horizon: Flexible but multi-year
What's Next?
The new strategies will launch April 1, 2026, and MCF will transition the current investments in your fund to the new strategies. Your fund will be automatically mapped to the single strategy that most closely represents your current pool allocation. Guidelines for how current donor allocations are being mapped to the new strategies can be found in the Strategy Factsheet document. Once you feel fully apprised of the new options, you will be able to revise your selection to best suit your personal objectives.
We have developed an effective transition process to ensure that all funds are reassigned and that all existing investments are reallocated to the appropriate new strategy. We expect this process to be completed by end of April 2026 at which point your new investment allocation will be visible on the MCF Donor Portal.
Should you choose to allocate some or all of your fund to a different strategy, including the CommunityFirst Loan Fund Strategy, the option will again be available on the MCF Donor Portal shortly after the transition process is completed.
To learn more about MCF's updated Investment Strategies, click here.
Investment Committee
MCF's Investment Committee, made up of volunteer professionals in the investment industry, guides the investment strategies of the Foundation.
Investment Pool Performance
The updated investment Strategies will launch on April 1, 2026 so the current pools will continue through the end of March 2026. Thus, we will continue to provide performance for the existing pools, as well as the 75% Equity Pool / 25% Fixed Income Pool, through March 31.
Performance of investment pools through January 31, 2026 (net of investment fees, with benchmarks provided for comparisons):
| 1 Month | Quarter | 1 Year | 3 Years | 5 Years | 10 Year | |
75% Equity Pool/25% Fixed Income Pool | 1.3 % | 1.6 % | N/A % | N/A % | N/A % | N/A % |
Total Portfolio Benchmark with HFRI | 2.7 % | 3.9 % | N/A % | N/A % | N/A % | N/A % |
Equity Pool | 1.5 % | 1.8 % | 11.5 % | 12.2 % | 7.9 % | 9.7 % |
Equity Pool Benchmark with HFRI* | 3.5 % | 5 % | 20.3 % | 14.7 % | 9.5 % | 9.7 % |
FutureFirst Pool | 1.1 % | 1.3 % | 16.4 % | 17.1 % | 10.4 % | 13.2 % |
MSCI AC World Index (Net) | 3 % | 4 % | 21.9 % | 19.1 % | 11.9 % | 12.8 % |
Fixed Income Pool | 0.5 % | 0.8 % | 7.7 % | 3.5 % | -0.1 % | 2.2 % |
Bloomberg U.S. Aggregate Index | 0.3 % | 0.7 % | 6.7 % | 3.6 % | -0.3 % | 2 % |
Enhanced Cash Pool | 0.4 % | 1.2 % | 4.8 % | 5.7 % | 3.4 % | 3 % |
90 Day U.S. Treasury Bills | 0.3 % | 0.9 % | 4.1 % | 4.8 % | 3.2 % | 2.2 % |
Money Market Pool | 0.3 % | 0.9 % | 4.2 % | 4.7 % | 3.2 % | 2.1 % |
90 Day U.S. Treasury Bills | 0.3 % | 0.9 % | 4.1 % | 4.8 % | 3.2 % | 2.2 % |
CommunityFirst Pool | 0.2 % | 0.5 % | 2 % | 2 % | 2 % | N/A % |
90 Day U.S. Treasury Bills | 0.3 % | 0.9 % | 4.1 % | 4.8 % | 3.2 % | 2.2 % |
* Equity Pool Benchmark with HFRI: 28.5% S&P 500, 9% Russell 2000, 25% HFRI FOF, 21.5% MSCI EAFE, 11% MSCI EM, 5% NCREIF.
