Cardinal Capital Awarded $4.2 Million Fund Management by Triangle Community Foundation
RALEIGH, NC – Under the terms of the mandate, Cardinal Capital Management will manage two separate funds totaling $4.2 million for the Triangle Community Foundation. The accounts are expected to fund early in the second quarter of 2009.
"We are very honored to work with the Triangle Community Foundation, a fine organization, founded by the late Noble Laureate, Dr. George Hitchings, which has been highly effective in helping non-profit organizations in the Triangle area and beyond,” said Glenn Andrews, President of Cardinal Capital Management. We have had a very good relationship with the Triangle Community Foundation for a number of years and they have had funds invested with Cardinal Capital before this new mandate. We are delighted to have this unique opportunity to further expand and strengthen our partnership with the Triangle Community Foundation."
The Triangle Community Foundation worked with independent investment consultant, Colonial Consulting, LLC in the review of asset allocation and portfolio manager selection. Colonial Consulting, LLC specializes in nonprofit endowments and works with 27 of the country’s leading community foundations. Andrea Bazán, President, Triangle Community Foundation commented, “After an exhaustive national search and due diligence process, we are very pleased to have chosen Cardinal Capital Management to manage a portion of the Foundation's portfolio. Cardinal won out over several other top investment managers in the U.S., and we look forward to working more closely with them within our new diversified portfolio.”
Founded in 1983, Triangle Community Foundation connects philanthropic resources with community needs, creates opportunity for enlightened change and encourages philanthropy as a way of life. The Foundation manages nearly 700 funds, ranging in size from $10,000 to $10 million, primarily for the benefit of Wake, Durham, Orange and Chatham counties in North Carolina.
Cardinal Capital Management’s U.S. taxable equity portfolio composite finished the calendar year 2008 ranked in the top one percentile of all U.S. equity large capitalization core managers. Their non-US equity portfolio finished 2008 ranked in the top four percentile. The measurements for the full year ending December 31, 2008 are versus the PSN investment manager database, the nation’s largest separately managed account database.
Cardinal Capital Management is an independent, fee-based, SEC-registered investment advisor located in Raleigh, North Carolina. Our clients include successful professionals, business executives, small business owners, retirees, and other individuals who value our high level of experience, expertise, attention to detail and personal service. Our studied and individualized approach to value-based investing is designed to offer excellent returns in a changing market.
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