About Our Funds

United Church Funds (UCF) offers a unique ministry that puts the power of the financial markets to work for local churches and organizations of the United Church of Christ. Established in 1909 to administer the Pilgrim Memorial Fund for the benefit of retired pastors, UCF has developed into a comprehensive investment service, managing over $750 million dollars of United Church of Christ assets. Alongside some of the historic endowments of the UCC, the assets entrusted to UCF include the savings, gifts and endowments of local churches, associations, conferences and denominational ministries.

An appealing alternative to commercial brokerage firms, UCF offers a family of nine traditional investment funds, plus two alternatives options — a selection that provides the flexibility and diversity UCC churches and ministries require both for spending and long-term investment growth. Investors may choose the simplicity of one of our funds of funds, or create their own allocations from the blend of asset classes that best suits their risk tolerance, timeline and return goals.

 

Managed Funds

CASH & EQUIVALENT
Invested primarily in high quality, US Dollar-denominated money market instruments with remaining maturities of 13 months or less, this fund provides investors with the least amount of market risk and consequently the lowest total rate of return over time of UCF’s nine funds. 

Pension Boards UCC

FIXED INCOME
Carrying a relatively low degree of market risk and total return over time, the Fixed Income Fund is invested primarily in intermediate and long-term US Dollar-denominated government and investment grade corporate fixed-income obligations.Three organizations manage portions of the Fixed Income Fund on behalf of UCF — 

Pension Boards UCC
STANDISH MELLON ASSET MANAGEMENT
Focus: Emerging market debt
Western Asset

DOMESTIC CORE EQUITY
A broadly diversified portfolio invested primarily in large capitalization common stock of US-headquartered corporations, this fund may also hold up to 10% of its portfolio in international stocks. Three organizations manage portions of the Domestic Core Equity Fund on behalf of UCF —

Fiduciary Management, Inc.
Quantitative Management Associates
State Street Global Advisors

SMALL CAP EQUITY
Carrying the highest degree of risk of any of UCF’s domestic funds, the Small Cap Equity Fund invests primarily in a diversified portfolio of US small capitalization stocks — typically with an average market capitalization under $1.5 billion. Three organizations manage portions of the Small Cap Equity Fund on behalf of UCF —

Dimensional Fund Advisors
Fiduciary Management, Inc.
Westfield Capital Management

INTERNATIONAL EQUITY
Invested largely in common stock of companies headquartered in developed countries, the International Equity Fund offers the opportunity to gain from even broader diversification with 15-25% invested in emerging markets. Four organizations manage portfolios of the International Equity Fund on behalf of UCF —

Aberdeen Asset Management
Baillie Gifford
LSV Asset Management
Oaktree Capital Management

ALTERNATIVES
The Alternatives Fund invests in a combination of hedge funds, real estate funds, real asset funds and other investments, seeking to increase diversification across additional asset classes and achieve returns that are not correlated with the indices of UCF’s current investment options. Four organizations manage portfolios of the International Equity Fund on behalf of UCF —

Abbey Capital
Evanston Capital Management
Heitman
Magnitude Capital

Funds of Funds

TOTAL EQUITY FUND
Comprising units of the Domestic Core, Small Cap and International Equity Funds, the Total Equity Fund invests primarily in a broadly diversified portfolio of domestic and international common stocks of both small and large capitalization, and carries a higher degree of risk than UCF’s Balanced Funds.

CONSERVATIVE BALANCED FUND
Comprising units of the Fixed Income Fund and Total Equity Fund, with a higher allocation of fixed-income to equities, the Conservative Balanced Fund offers the lowest return potential of UCF’s three Balanced Funds over time, but also the lowest market risk. Target allocation: 65% Fixed Income, 35% Total Equity

MODERATE BALANCED FUND
Comprising units of the Fixed Income and Total Equity Funds, the Moderate Balanced Fund pursues a middle-of -the-road approach that emphasizes stock for higher capital appreciation potential, while maintaining a significant fixed-income component to temper market volatility. Target allocation: 40% Fixed Income, 60% Total Equity

AGGRESSIVE BALANCED FUND
Comprising units of the Fixed Income and Total Equity Funds, with the highest allocation to equities and correspondingly higher degree of market risk, the Aggressive Balanced Fund offers the highest return potential of the UCF’s three balanced funds. Target allocation: 25% Fixed Income, 75% Total Equity