On October 1, United Church Funds became aware of an incorrect valuation being reported by one of our fixed income managers to our custodian bank, BNY Mellon. This incorrect valuation resulted in UCF’s Client Portal showing an incorrect market value of investment accounts allocated to the UCF Fixed Income Fund, and subsequently to the UCF Balanced Fund and UCF Alternatives Balanced Fund. We are working with our vendors and custodian bank to remedy this issue. Until it is resolved, the UCF Client Portal will show the 9/30/2024 valuation for the affected funds.
We apologize for any inconvenience and thank you for your patience. We anticipate having this situation resolved shortly – ahead of the release of the September and Q3 account statements.