Legacy reviews investment strategies

The Legacy Endowment Foundation Board recently dedicated several days to reviewing its investments and entertaining proposals from six highly respected international organizations.

“A primary board responsibility is to maintain and monitor the portfolio so that it delivers good growth and return and maintains a solid low-risk allocation,” said Board President Phil Delaney. “Proper due diligence demands we regularly review both investment opportunities and available expertise to make sure we are doing the best job for our beneficiaries.”

The board met with Common Fund, Goldman Sachs, Wachovia, Canterbury, Merrill Lynch, Morgan Stanley and, of course, one of its current investment advisors, the Hegardt Group of Banc of America.

Legacy Endowment, “The Community Foundation,” currently serves several nonprofit organizations. Together with its charitable partners, Legacy provides philanthropic services and education to organizations, families and individuals designed to improve the quality of life in local communities. For more information, call (760) 728-3304.