Portfolio Commentary*

As of December 31, 2018 the AFL-CIO Building Investment Trust ("BIT") had $5.2 billion in net assets. The BIT generated quarterly total gross and net returns of 1.82% and 1.59%, respectively. The gross return was comprised of a 0.94% income return and a 0.88% appreciation return. Total returns for the 12-month period ended December 31, 2018 were 8.07% and 7.11%, gross and net, respectively.

*Performance data shown represents past performance.  Past performance does not guarantee future results.  Gross returns are calculated net of fund level expenses, except for Trustee fees.  Net returns are calculated net of all fund expenses.  Returns are calculated quarterly on a time-weighted basis using beginning-of-period values and reflect the reinvestment of all income.  All returns, with the exception of those for the current quarter, are annualized.  Income is the dividends, interest, and rents net of operating expense from BIT investments and other sources (except realized and unrealized losses from investments).  Net appreciation is the realized and unrealized gains and losses from BIT real estate investments calculated based on fair values determined utilizing independent real estate appraisals.  Each year, the consolidated financial statements of the BIT are audited by an independent firm, and financial statements based upon such audit are delivered to each Participant.  The fair market value of each real estate investment as reflected in such audited financial statements is derived using the same information and methodology as discussed above.  Additional information is available in the Investment Memorandum of the BIT or otherwise available upon request.

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BIT News

Worker Appreciation Luncheon Held at The National Apartments in Old City Over 100 union tradespeople were honored at a worker appreciation luncheon hosted by the AFL-CIO Building Investment Trust ("BIT"), the Philadelphia Council AFL-CIO, and the Philadelphia Building & Construction Trades Council.
Construction Moves Above Ground in the Windy City Celebrate the 30th Anniversary of the BIT by viewing the BIT's latest joint venture project along the Chicago River, Wolf Point East
Recent Transactions Take a moment to look at some recent transactions of the BIT. As with all investments by the BIT, new acquisitions have to adhere to the BIT's union labor policies, which can help stimulate union job creation and economic growth in communities across America.