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. Four organizations manage portions of the Fixed Income Fund on behalf of UCF —

Organization Management

Nuveen Core Impact Bond

Nuveen Core Impact Bond is a Core Fixed Income manager that seeks to provide a long-term total return through income by investing in investment-grade securities that meet the team’s ESG criteria, with a special consideration to social impact (Proactive Social Investments), which has been ~30-40% of the portfolio. Impact themes include affordable housing; community and economic development; renewable energy; and …

Voya Investment Management

The Bank Loan portfolio is managed by Voya Investment Management, with over 40 years of experience and approximately $224 billion in assets under management. Voya seeks to achieve superior long-term risk-adjusted returns while minimizing credit risk. The firm invests primarily in non-investment grade senior loans that offer attractive yields and are typically secured by borrower assets. Voya focuses on fundamental credit …

The Pension Boards-United Church of Christ, Inc.

The Pension Boards-United Church of Christ, Inc’s (PBUCC) Fixed Income team manages the Core Fixed Income portfolio, a diversified portfolio comprised of US government and corporate bonds. The team comprises long-term investors who seek to capitalize on opportunities that arise when valuations move toward extremes. The Fixed Income team manages over $1 billion.

Lazard Asset Management

Lazard Asset Management manages the emerging market debt (EMD) blend strategy with both a global thematic approach and a bottom-up credit research focus that stresses total return, a benchmark agnostic approach, and active asset allocation to EMD asset classes. The emerging market debt blend strategy includes both dollar denominated as well as local currency sectors. The portfolio is broadly diversified across …

Community Capital Management

Founded in 1998, Community Capital Management (CCM) is an SEC-registered investment advisor that specializes in managing impact investing and fossil fuel free portfolios. Its intermediate fixed income strategy, launched in 1999, focuses on making qualified investments under the Community Reinvestment Act. Over the last 16 years, it has delivered steady risk-adjusted returns while providing added diversification and positive impact on the community.
News and resources

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Fiduciary Focus: Coming Up With A Game Plan For Up- and Down-Times

Matt Wagner, Vice President, Institutional Relationships, has prepared a fiduciary focus article that discusses and illustrates the impact of excess withdrawals. Read the article.

Q3 2022 Town Hall Recording

The UCF staff and investment team shared a review of UCF’s investment performance, organizational updates and the latest in our responsible investing efforts for the third quarter of 2022. Access the Town Hall recording, presentation slides and poll results!

FedEx Agrees to Greater Transparency on Climate Lobbying Activities

UCF and PBUCC announced today that as the result of their joint shareholder resolution filed this past April, FedEx Corporation has agreed to enhance public disclosure of its climate lobbying activities. Read more.