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Investment Committee OverviewThe Diocesan Investment Fund was established in 1950 under the authority of the Diocesan Convention to provide professional management of long-term investments belonging to the Diocese as well as parishes, separate congregations, missions and other Diocesan entities. The Diocesan Investment Committee, comprised of Episcopalians who are members of the financial and investment communities, provides general oversight of the Fund. The Committee establishes a Statement of Investment Policy that details the appropriate asset allocation guidelines for the Fund. The Committee meets regularly with the investment manager to guide the investment process and to oversee the performance of the Fund. The investment objective of the Diocesan Investment Fund is to maximize long-term total return (i.e., income plus appreciation/depreciation) consistent with prudent risk parameters. The Committee believes in the benefits of investing in multiple asset classes (including large capitalized, mid-capitalized, small capitalized, real estate, and international equities, along with various types of bonds and other fixed income instruments). The goal of this approach is to reduce risk and enhance returns over time by taking advantage of how the different asset classes behave. Typically, the asset allocation consists of 60-70% equities (stocks) and the balance in fixed income securities. More detailed information on asset allocation policy ranges as well as the current targeted asset allocation is provided through links on this website. While many participants have established planned periodic withdrawals from the fund, generally from dividends and interest, the Investment Committee believes that the Fund is most appropriate for participants who plan to have the majority of their assets invested in the Fund for at least a three-to-five-year time frame. This is to allow for market fluctuations and volatility and to avoid participants having to withdraw assets from the Fund at a low point in a market cycle. The Diocesan Investment Fund has been managed by Loomis Sayles & Company since 1973. Loomis was founded over 75 years ago and manages approximately $80 billion for a variety of individuals and institutions. The assets of the Fund are held in a custodial account in the Trust Department of the Washington office of PNC Financial, the successor to Riggs & Company. Members Ellen Martin, Chair Church House Staff Contact
Last Update: 8/11/08
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