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INVESTMENT REPORT
AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS
SECOND QUARTER, 2008
The Ministry/Mission Fund balance was $13,950,727 at the end of June. During the quarter $173,750 was withdrawn which is ¼ of the annual authorized amount of $695,000 designated for budget support.
The Fund balance before the withdrawal increased by $103,210, which is an annualized rate of 2.9%. This return was impacted by the current market conditions. The positive performance in April and May was offset by a sharp downturn in June. Since the end of 2007 the Fund has declined by $575,125 or -3.9% prior to withdrawals for budget support. This performance is better than the benchmark decline of -6.5%.
As of June 30, 2008 the Fund was invested in the following:
American Baptist Foundation Endowment Fund $9,345,315.47
Calvert Social Investment Fund - Bond $1,867,429.79
Calvert Social Investment Fund - Equity $2,737,982.35
$13,950,727.61
This represents an asset allocation of 67% equities and 33% fixed income, which is well within the Investment Policy’s authorized range.
Anne Mills, Chair
ABCRM Investment Committee
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