ASANOR Endowment Fund Report - October 2010
First the bad news. When Bob Baehr made his last Fund Report in March 2009, the EF had a total worth of NOK 802.733. That was down by NOK 269.487 from a high point of NOK 1.072.220 in October of 2007. This reflected the damage done by the 2008-2009 financial crisis.
Then the good news. By January 2010, the markets had rebounded and the total worth of the Fund was NOK 1.045.987, a gain of NOK 243.254! We were millionaires once more!
Then the bad news. Since January 2010 the markets have fallen once more. As of October 1, 2010, the Fund has suffered a net loss of NOK 35.301.
Then the good news. Hey! We are still millionaires! The total worth of the Fund as of October 2010 was NOK 1.010.686! We’re loaded!
Future plans: The present leadership of the Endowment Fund is now awaiting the next rise of the market. When the total worth of the Fund once again reaches the January 2010 high of NOK 1.045.987, investments abroad will be liquidated and the cash repatriated to Norway to be placed in a high interest bank account. If that does not happen within the next year, investments abroad will be liquidated in any case.
Why? Because, folks, we want to get off this roller coaster. None of us has the financial wizardry that Bob Baehr put to such good use for our benefit. It is time to seek shelter with the loot we have.
For the ASANOR Endowment Fund
Distribution Among ASANOR EF Sub-Funds - October 2010
The Kristoffer Dannevig Fund 148.571
The Ole O. Moen Fund 104.101
The Dorothy Burton Skårdal 66.705
Fund for the Study of Migration
Robert Baehr Fund 101.069
Sigmund Skard Fund 590.241