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INVESTMENT REPORT
AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS
FOURTH QUARTER, 2009
At the end of December 2009 the Ministry/Mission Fund balance was $12,278,055, an increase of $324,912 from the end of September and a gain of $1,465,118 from year end, 2008. This growth is primarily due to equity market gains.
During 2009, $490,832.70 was withdrawn to support the Region’s operations although $710,000 had been authorized. The Region has used other funding sources where possible in order to minimize the impact on the Fund and to enable the Fund to recover faster from its market losses as the markets recover.
Including all withdrawals, the Fund’s total return was $1.96 million, an 18% increase since December, 2008. This exceeds the Fund’s 2009 weighted benchmark of 16%.
As of December 31, 2009 the Fund was invested in the following:
American Baptist Foundation Endowment Fund $8,174,827.15
Calvert Social Investment Fund – Bond $1,837,070.37
Calvert Social Investment Fund – Equity $2,266,157.11
$12,278,054.63
With the turnaround in the financial markets underway, the Investment Committee and the Region staff will continue to carefully balance their actions to enable the Fund to return to its expected levels while also honoring the intent of the Fund to provide support for Region programs.
Reflective of this careful balance of regaining principal while supporting operations, the Fund’s 2010 support for operations has declined to $670,000 from $710,000 in 2009. This is consistent with the Fund’s Investment Policy which specifies 5% of the last 12 quarter market values as the level of annual operations support.
If you have any questions about the Fund and its investments, please contact any of the Committee members; Bob Blake, Jim O’Dell or myself.
Anne Mills, Chair
ABCRM Investment Committee
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