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Investment Committee Annual Reports Overview by year: 2008 | 2007 | 2006 | 2005 | 2004
2007 REPORT OF THE DIOCESAN INVESTMENT COMMITTEE The report below represents the Annual Report for 2007, presented to Council at the January 2008 Diocesan Convention and printed in the 2008 Journal and Directory. The Investment Committee was established in 1950 in order to provide professional supervision of the investment funds belonging to parishes, separate congregations, missions, and the Diocese which are invested in the Diocesan Investment Fund. The Fund was valued at approximately $18.3 million as of November 30, 2007 and has 45 participants. Members of the Committee are Episcopalians who are members of the investment and financial community who possess the expertise and experience to guide the investment process and oversee the performance of Diocesan investments. The Committee also reviews those Trusts of which the Diocese is a beneficiary and meets with the corporate trustees of those trusts to ascertain that the trusts are being invested appropriately so as to maximize the return to the Diocese while minimizing risk to ensure that the Diocesan objectives of income and reasonable growth consistent with safety are being met. 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 and employing a balanced portfolio approach. The importance of asset allocation and diversification is well recognized as an important tool in the management of investment risk. As a result, the Committee has explored in depth the benefits of investing in multiple asset classes (large cap, mid-cap, small cap, international, real estate equities, international equities, and fixed income). The Committee has adopted an asset allocation strategy of investing in multiple asset classes that perform differently under varying market conditions, with those asset classes to be periodically strategically rebalanced. The goal of this approach is to reduce risk and enhance returns over time by taking advantage of the varying correlations among different asset classes. Typically, the broad asset allocation consists of roughly 60-70% equities (stocks) and the balance in fixed income securities. The Investment Committee receives and reviews reports from the investment manager of the Diocesan Investment Fund, including reports on investment performance, and meets with the manager on a regular basis. The Committee's Statement of Investment Policy, adopted in 2000 and most recently revised in April 2006, states the principals, policies and procedures under which the Diocesan Investment Fund is managed. The Committee also establishes asset allocation guidelines for the Diocesan Investment Fund which are reviewed and updated periodically. An overview summary of the Diocesan Investment Fund, a copy of policy and guideline statements, quarterly reports from the investment manager, quarterly reports on the assets of the Fund, and reports on investment performance are posted on the Diocesan Website, or may be obtained by calling Eva Myking , Director of Administration, at (202) 537-6537. The Committee believes that the professional supervision that it offers is to the benefit of all Diocesan parishes, separate congregations, and missions in the investing of their funds, and the Committee encourages participation in this Fund. Ms. Ellen F. Martin, Chair TOP
2006 REPORT OF THE DIOCESAN INVESTMENT COMMITTEE The report below represents the Annual Report for 2006, presented to Council at the January 2007 Diocesan Convention and printed in the 2007 Journal and Directory. The Investment Committee was established in 1950 in order to provide professional supervision of the investment funds belonging to parishes, separate congregations, missions, and the Diocese which are invested in the Diocesan Investment Fund. The Fund was valued at approximately $15.9 million as of November 30, 2006 and has 53 participants. Members of the Committee are Episcopalians who are members of the investment and financial community who possess the expertise and experience to guide the investment process and oversee the performance of Diocesan investments. The Committee also reviews those Trusts of which the Diocese is a beneficiary and meets with the corporate trustees of those trusts to ascertain that the trusts are being invested appropriately so as to maximize the return to the Diocese while minimizing risk to ensure that the Diocesan objectives of income and reasonable growth consistent with safety are being met. 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 and employing a balanced portfolio approach. The importance of asset allocation and diversification is well recognized as an important tool in the management of investment risk. As a result, the Committee has explored in depth the benefits of investing in multiple asset classes (large cap, mid-cap, small cap, international, real estate equities, international equities, and fixed income). The Committee has adopted an asset allocation strategy of investing in multiple asset classes that perform differently under varying market conditions, with those asset classes to be periodically strategically rebalanced. The goal of this approach is to reduce risk and enhance returns over time by taking advantage of the varying correlations among different asset classes. Typically, the broad asset allocation consists of roughly 60-70% equities (stocks) and the balance in fixed income securities. The Investment Committee receives and reviews reports from the investment manager of the Diocesan Investment Fund, including reports on investment performance, and meets with the manager on a regular basis. The committee also reviews independently prepared reports on the investment performance of the Fund. The Committee's Statement of Investment Policy, adopted in 2000 and most recently revised in April 2006, states the principals, policies and procedures under which the Diocesan Investment Fund is managed. The Committee also establishes asset allocation guidelines for the Diocesan Investment Fund which are reviewed and updated periodically. An overview summary of the Diocesan Investment Fund, a copy of policy and guideline statements, quarterly reports from the investment manager, quarterly reports on the assets of the Fund, and reports on investment performance are posted on the Diocesan Website, or may be obtained by calling Eva Myking , Director of Administration, at (202) 537-6537. The Committee believes that the professional supervision that it offers is to the benefit of all Diocesan parishes, separate congregations, and missions in the investing of their funds, and the Committee encourages participation in this Fund. Ms. Ellen Fishwick Martin, Chair TOP
2005 REPORT OF THE DIOCESAN INVESTMENT COMMITTEE The report below represents the Annual Report for 2005, presented to Council at the January 2006 Diocesan Convention and printed in the 2006 Journal and Directory. The Investment Committee was established 55 years ago in order to provide professional supervision of the investment funds belonging to parishes, separate congregations, missions, and the Diocese which are invested in the Diocesan Investment Fund. The Fund was valued at approximately $13.4 million at year-end 2004 and has 51 participants. Members of the Committee are Episcopalians who are members of the investment and financial community who possess the expertise and experience to guide the investment process and oversee the performance of Diocesan investments. The Committee also reviews those Trusts of which the Diocese is a beneficiary and meets with the corporate trustees of those trusts to ascertain that the trusts are being invested appropriately so as to maximize the return to the Diocese while minimizing risk to ensure that the Diocesan objectives of income and reasonable growth consistent with safety are being met. The Diocesan Investment Fund is a balanced fund that is invested in a combination of common stocks and fixed income securities. The investment manager of the Fund is Loomis Sayles & Company. The importance of asset allocation and diversification is well recognized as an important tool in the management of investment risk. The Committee has explored in depth the benefits of investing in multiple asset classes (large cap, mid-cap, small cap, international, real estate equities, and fixed income). The Committee has adopted an asset allocation strategy for the Diocesan Investment Fund of investing in multiple assets classes that perform differently under varying market conditions, and employing a discipline to periodically rebalance those asset classes. The goal of such an approach is to reduce risk and enhance returns over time by taking advantage of the varying correlations among assets classes. The Investment Committee receives and reviews reports from the investment manager of the Diocesan Investment Fund, including reports on investment performance, and meets with the manager on a regular basis. The committee also reviews independently prepared reports on the investment performance of the Fund. The Committee's Statement of Investment Policy, adopted in 2000 and revised in June 2002 and again in November 2003, states the principals, policies and procedures under which the Diocesan Investment Fund is managed. The Committee also establishes asset allocation guidelines for the Diocesan Investment Fund which are reviewed and updated periodically. A copy of these policies and guideline statements are posted on the Diocesan Website, or may be obtained by calling Eva Myking , Director of Administration, at 202-537-6537. The Committee believes that the professional supervision that it offers is to the benefit of all Diocesan parishes, separate congregations, and missions in the investing of their funds, and the Committee encourages participation in this Fund. Ms. Ellen Fishwick Martin, Chair TOP
2004 REPORT OF THE DIOCESAN INVESTMENT COMMITTEE The report below represents the Annual Report for 2004, presented to Council at the January 2005 Diocesan Convention and printed in the 2005 Journal and Directory. The Investment Committee was established 54 years ago in order to provide professional supervision of the investment funds belonging to parishes, separate congregations, missions, and the Diocese which are invested in the Diocesan Investment Fund. The Fund was valued at approximately $12.2 million at year-end 2003 and has 49 participants. Members of the Committee are Episcopalians who are members of the investment and financial community who possess the expertise and experience to guide the investment process and oversee the performance of Diocesan investments. The Committee also reviews those Trusts of which the Diocese is a beneficiary and meets with the corporate trustees of those trusts to ascertain that the trusts are being invested appropriately so as to maximize the return to the Diocese while minimizing risk to ensure that the Diocesan objectives of income and reasonable growth consistent with safety are being met. The Diocesan Investment Fund is a balanced fund that is invested in a combination of common stocks and fixed income securities. The investment manager of the Fund is Loomis Sayles & Company. The importance of asset allocation and diversification is well recognized as an important tool in the management of investment risk. The Committee has explored in depth the benefits of investing in multiple asset classes (large cap, mid-cap, small cap, international, real estate equities, and fixed income). The Committee has adopted an asset allocation strategy for the Diocesan Investment Fund of investing in multiple assets classes that perform differently under varying market conditions, and employing a discipline to periodically rebalance those asset classes. The goal of such an approach is to reduce risk and enhance returns over time by taking advantage of the varying correlations among assets classes. The Investment Committee receives and reviews reports from the investment manager of the Diocesan Investment Fund, including reports on investment performance, and meets with the manager on a regular basis. The Committee also reviews independently prepared reports on the investment performance of the Fund. The Committee's Statement of Investment Policy, adopted in 2000 and revised in June 2002 and again in November 2003, state the principals, policies and procedures under which the Diocesan Investment Fund is managed. The Committee also establishes asset allocation guidelines for the Diocesan Investment Fund which are reviewed and updated periodically. A copy of these policies and guideline statements are posted on the Diocesan Website, or may be obtained by calling Eva Myking , Director of Administration, at 202-537-6537. The Committee believes that the professional supervision that it offers is to the benefit of all Diocesan parishes, separate congregations, and missions in the investing of their funds, and the Committee encourages participation in this Fund. Ms. Ellen Fishwick Martin, Chair TOP
Last Update: 5/27/08
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