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Porter County Foundation terminates Wasatch fund, approves replacement and schedules 5% spending discussion
Summary
Trustees voted to remove the Wasatch Ultra Growth Institutional Fund after consultant Capital City placed it on a watch list and recommended termination; trustees approved replacing the manager with a concentrated small‑cap option and agreed to put a potential 5% one‑time draw on the next foundation meeting agenda for 2026 budget consideration.
Porter County Foundation trustees voted to terminate the Wasatch Ultra Growth Institutional Fund and approved replacing that allocation with a small‑cap growth manager after a presentation by consultant Amanda Black of Capital City.
The action came after Capital City reported the foundation portfolio ended the quarter at about $186,800,000 with a 1.4% positive return for the quarter and recommended the Wasatch fund be removed due to sustained underperformance. Amanda Black, Capital City’s consultant, told trustees the Wasatch fund had been placed on watch status and that the consultant team “changed those lights to red,” and therefore recommended termination and replacement.
Capital City presented three finalists to replace the Wasatch allocation—William Blair, Congress and Stevens—and highlighted tradeoffs among them. Black described Stevens as an employee‑owned small‑cap growth specialist with a long, stable team and a roughly 90–104 stock portfolio that produced strong risk‑adjusted returns in the consultant’s screening. She said Congress (described in the…
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