The Greater Charlotte Cultural Trust
The Greater Charlotte Cultural Trust, formed by a partnership in 2002 by the Arts & Science Council and Foundation For The Carolinas, is dedicated to growing and sustaining Charlotte-Mecklenburg's arts, science, history and heritage organizations.
The Cultural Trust is a subsidiary foundation of Foundation For The Carolinas. The goal of this unique partnership is to ensure a vibrant cultural community by providing a robust endowment stewardship that incorporates a high level of oversight and investment management in order to build permanent funds for the area's cultural partners.
Use this form to establish your GCCT Agency Fund
Use this form to recommend a change in investment preference
In addition to the expertly managed investment pools offered by Foundation For The Carolinas, the Greater Charlotte Cultural Trust fundholders have two additional pooled options from which to select. Both of these additional options are overseen by the Greater Charlotte Cultural Trust Investment Committee, and serve to honor the legacy of Wells Fargo and Bank of America’s support of the Charlotte cultural community.
Investment Philosophy – GCCT’s primary investment objective is to maintain or increase the general purchasing power of the funds while maintaining sufficient liquidity to meet annual distribution requirements.
Investment Committee – GCCT’s offerings are strengthened by the expertise of the Investment Committee, appointed by the GCCT Board of Directors and is comprised of veteran investors and experienced business leaders knowledgeable in investment management. The GCCT Investment Committee has direct oversight of the GCCT offerings with direct investment exposure to Wells Fargo and Bank of America. They are responsible for monitoring performance with the goal of achieving a return commensurate with the risk of the particular investment strategy.
- Investment Consultant – GCCT utilizes the services of the FFTC Investment Consultant (currently Fund Evaluation Group), which specializes in institutional funds and assists the GCCT Investment Committee with consolidated reporting and oversight of all funds within GCCT.
- FFTC Investment Staff – In addition to the Investment Consultant, FFTC’s internal staff includes investment professionals who further assist the committee in monitoring all aspects of FFTC’s investment portfolios.
Click here to download GCCT Investment Performance as of January 31, 2017.
Organizations within the GCCT framework may select from any of the investment pools offered by FFTC, as well as two additional pools, the BAC/WFC Pool and the GCCT Pool.
Anticipated Distribution Horizon (in years)
BAC/WFC Pool – Follows a broadly diversified investment strategy, with a predominately global equity and modest fixed income orientation, tactically layered by real assets and hedge funds. Seeks capital appreciation with a long-term investment horizon. The pool is managed 50% by Bank of America and 50% by Wells Fargo.
GCCT Pool – Follows the broadly diversified investment strategy of non-endowed long-term growth for 40% of the pool. The other 60% is equally split and managed by BAC/WFC.
Liquid Reserves Pool – Invested in the BlackRock TempFund, one of BlackRock’s Liquidity Funds. The fund seeks as high a level of current income as is consistent with liquidity and stability of principal. TempFund invests in a broad range of U.S. dollar denominated money market instruments.
Low Duration Fixed Income Pool – Preserves capital while generating income. Investments are allocated across four fixed income managers – Sterling Capital Short Duration (40%), Doubleline Low Duration (35%), BlackRock Low Duration (15%), and Brown Brothers Harriman Limited Duration (10%). These managers invest across a variety of fixed income instruments with maturities generally less than five years - approximately three years on average.
Income & Growth Pool – Designed to yield consistent income and dividends while also achieving moderate capital appreciation. The portfolio is allocated 60% fixed income and 40% equity. The equity allocation includes domestic, international developed and emerging market large and small cap equity securities. The fixed income allocation includes short and medium term fixed income securities with an aggregate maturity of six years.
Moderate Growth Pool – Seeks long-term capital appreciation without exposure to hedge funds or private equity. Invested in broad domestic and international large, and small cap stocks in developed and emerging markets. Target allocation is 25.5% global fixed income, 69.5% global equity and 5% real assets.
Passive Diversified Growth Pool – Offers a well-diversified investment option using low-cost ETFs. Invested across a variety of Vanguard Exchange Traded Funds, targeting 46% U.S. equity, 23% international developed equity, 14% U.S. fixed income, 7% international fixed income, 5% Real Estate Investment Trust and 5% Energy.
Non-Endowed Diversified Long-Term Growth Pool – Broadly diversified allocation, offering domestic and international market exposure, investing in large cap and small cap securities in developed markets and emerging markets, with an allocation to hedge funds to improve the overall risk/return profile of the total portfolio. Target allocation is 17.2% global fixed income, 68% global equity, 5% real assets and 9.8% diversifying strategies.
Endowed Diversified Long-Term Growth Pool – Model endowment portfolio recommended by FFTC’s Investment Committee for endowed funds. Broadly diversified allocation, offering domestic and international market exposure, investing in large cap and small cap securities in developed countries and emerging markets with a greater allocation to alternative investments, split between hedge funds and private capital investments, to improve the overall risk/return profile of the total portfolio. Target allocation is 14.2% global fixed income, 62.9% global equity, 8% real assets and 14.9% diversifying strategies.