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Mutual Fund Current Performance

Performance data quoted represent past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of a fund may be lower or higher than the performance quoted. During some periods, total return for TIFF Short-Term Fund would have been lower had certain expenses not been waived or reimbursed. Total return assumes reinvestment of dividends. Please note that passive indices such as those comprising the benchmarks against which the funds' net returns are compared do not incur expenses. Moreover, one cannot invest directly in an index.

The following fund returns do not reflect the deduction of entry and exit fees levied on member purchases and redemptions. Were such fees to be deducted from the performance of MAF, the fund's reported performance would be reduced, as indeed it has been in the performance data furnished above under Annualized Total Returns, which reflect the deduction of such fees.

Please see the Index Descriptions for details of the Constructed Index, 65/35 Mix, and CPI.

Current Data 12/13/2018 (%)

TIFF Fund / Benchmark QTD YTD Cumulative
Since Inception
Inception Date
MAF -6.97 -7.77 425.19 3/31/1995
CPI + 5% *
1.38 7.67 430.99
Constructed Index ^
-6.36 -3.67 377.76
STF 0.47 1.56 87.90 5/31/1994
BofA Merrill Lynch US 6-Month T-Bill
0.47 1.77 96.74
*   Official data available on a monthly basis only; intra-month returns represent TIFF estimates.

^ Performance of the Constructed Index (CI) generated from July 1, 2009, through September 30, 2015, was reduced by 20 basis points (a basis point is one one-hundredth of a percent or 0.01%) per annum, prorated monthly. This reduction reflected an estimate of the costs of investing in the CI’s asset segments through index funds or other instruments. (One cannot invest directly in an index, and unmanaged indices do not incur fees and expenses.) The reported performance of the CI from July 1, 2009, through September 30, 2015, would increase in the absence of a 20 basis point reduction. Historical performance of the CI is not adjusted when the composition of the CI changes. Therefore, past performance reflects the allocations, segment weights, and segment benchmarks that were in place at the time the performance was generated.

Additional information about each fund may be obtained on this website by clicking each one of the funds below:
Multi-Asset Fund - The fund may use leverage; invests in illiquid securities, non-US securities, small capitalization stocks, derivatives, below investment grade bonds and engages in short-selling. Non-US securities may entail political, economic, and currency risks different from those of US securities and may be issued by entities adhering to different accounting standards than those governing US issuers. Small capitalization stocks may entail different risks than larger capitalization stocks, including potentially lesser degrees of liquidity. The fund or certain of its money managers invest routinely and, at times, significantly in derivatives, certain of which are deemed by the SEC to be highly speculative. Short selling of securities may increase the potential for loss if a manager has difficulty covering a short position. Leverage may accelerate the velocity and magnitude of potential losses. Not more than 20% of the fund's assets may be invested in debt obligations rated below investment grade (i.e., having a rating lower than BBB by Standard & Poor's or Baa by Moody's) or unrated but deemed to be of similar quality. Bonds rated below investment grade are commonly referred to as "junk bonds." As a multi-manager fund, the fund may experience higher transaction costs than a fund managed by a single manager, and the fund may not be able to combine money managers such that their styles are complementary.
Short-Term Fund - Investments in debt securities typically decrease in value when interest rates rise although the risk is less for short-term debt securities than for longer-term debt securities.


The prospectus contains detailed information about risks associated with the TIFF mutual funds. Please read the prospectus carefully before investing. Mutual fund investing involves risk. Principal loss is possible. The mutual funds are distributed by Foreside Fund Services, LLC.
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