Investment Committee meets

June 19, 2014

UCF’s Investment Committee met in New York on June 16 to review the portfolio’s performance and discuss development of two new fund options for investors.

Fund Free of Fossil Fuels
Furthering UCF’s commitment to the General Synod, the investment committee discussed progress on the creation of a fund free of fossil fuel companies. This new fund — initially a domestic large cap equity fund — will focus on screening out investments in companies that extract and produce fossil fuels. UCF’s investment consultant, Summit Strategies, presented a selection of both active and passive options from 11 different managers. One significant factor in moving forward: to what degree are UCF investors interested in moving part of their investments into this new fund? In other words, how much money will UCF investors commit to this fund? As manager fees and UCF’s options will be determined in part by total assets in the fund, the committee selected two passive managers (requiring a $10 million minimum) and one enhanced index manager (requiring a $20 million minimum). UCF staff will begin to canvas current investors to determine the level of assets that might be committed to this fund. To learn more, join us for a webinar on July 23 at 2pm ET — click here to register.

Impact Investment Fund
The committee also welcomed investment consultant Veris Wealth Partners to learn more about how UCF could develop an impact investment fund. UCF has met with other consultants who specialize in this social purpose arena — which includes microcredit, affordable housing and financing for underserved populations — with a goal of creating a new fund to which UCF investors could allocate a portion of their assets. This kind of fund will seek both a stated financial return alongside identifiable social impact. As UCF moves closer to opening this fund for investment, investor interest will again play an important role in determining the specific investment opportunities for the fund.

Portfolio Review
The representative from Summit Strategies reviewed recent performance with the committee, with an update on the economy and capital markets. Click here to download a copy of the report.

Performance Webinar
Be sure to register for UCF’s Performance Webinar for the second quarter, to be held Wednesday, July 30 at 1pm ET.

 
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