Financial market events are dominating the news and stock fluctuations, bank bailouts and government rescue plans are creating market uncertainties that are making many investors nervous.
CIRI invests in traditional public market securities (stocks, bonds and cash) and private equity securities.
Both of these asset classes have been adversely affected by recent events. In early 2007, CIRI diversified its holdings away from a large-cap value concentrated portfolio to one more reflective of the broad market,including both growth and small- and mid-cap securities. This change benefited CIRI by reducing its holdings in bank, brokerage and insurance companies that are experiencing the greatest difficulty in today’s markets.
“Financial market events during the past few months have certainly been disturbing,” said Patrick Duke, CIRI chief financial officer. “But CIRI’s investment philosophy is sound. Our portfolio is well diversified and professionally managed by some of the best firms in the world, and our cash holdings are safe.”
