INVESTMENT REPORT
AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS
FOURTH QUARTER, 2007
At the end of December 2007 the Ministry/Mission Fund balance was $14,873,452. During 2007 a total of $688,000 has been withdrawn as the authorized amount designated for budget support.
The Fund balance increased during 2007, before withdrawals, by $996,617.79 for an annualized total return of 6.8%. This return was impacted by the market instabilities that started in the fourth quarter and have continued into 2008. This 6.8% total return compares favorably with the 2007 benchmark return of 6.1%.
Since 5% of the average of the previous quarters’ market values is used each year to support the budget ($688,000 in 2007), the remaining $308,617.79 was retained to grow the Fund balance. While the retained amount will vary each year depending upon investment results, this increase is needed to support the region’s budget in future years.
As of December 31, 2007 the Fund was invested in the following:
American Baptist Foundation Endowment Fund $10,109,211.76
Calvert Social Investment Fund - Bond $1,854,098.57
Calvert Social Investment Fund - Equity $2,910,141.72
$14,873,452.05
This represents an asset allocation of 67% equities and 33% fixed income, which is well within the Investment Policy’s authorized range.
On behalf of your Investment Committee of Bob Blake, Jim O’Dell and myself, let me thank you for opportunity to serve the Region by overseeing this Fund. Bringing financial stability to the annual operations is important for the sustainability of the Region’s programs.
Anne Mills, Chair
ABCRM Investment Committee
INVESTMENT REPORT
AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS
THIRD QUARTER, 2007
At the end of September 2007 the Ministry/Mission Fund balance was $15,340,667. During the first three quarters of 2007 a total of $392,550 has been withdrawn as part of the total annual authorized amount of $688,000 designated for budget support.
The Fund balance has increased since the beginning of 2007, before withdrawals, by $1,168,383 for an annualized total return of 8.0%. Since 5% is used each year to support the budget, the remaining 3% is retained to grow the Fund balance. While the retained amount will vary depending upon investment results, this increase is needed to grow the support for the region’s budget in future years.
As of September 30, 2007 the Fund is invested in the following:
American Baptist Foundation Endowment Fund $10,623,947.61
Calvert Social Investment Fund - Bond $1,807,044.46
Calvert Social Investment Fund - Equity $2,909,675.28
$15,340,667.35
This represents an asset allocation of 67.4% equities and 32.6% fixed income, which is well within the Investment Policy’s authorized range.
For those of you who were not able to attend the ABCRM Gathering in October Jim O’Dell was reelected to a new three term on the Investment Committee and Bob Blake was elected to fill the remaining two years as the third member of the Committee. Thanks to both of them for agreeing to serve.
Anne Mills, Chair
ABCRM Investment Committee
INVESTMENT REPORT
AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS
SECOND QUARTER, 2007
At the end of June 2007 the Ministry/Mission Fund balance was $15,192,391. During the quarter $172,000 was designated for budget support which is one-quarter of the 2007 support of $668,000 for the operating budget. The total increase in the Fund during the first half of the year before withdrawals was $799,556 for an annualized total return of 11.0%. While there is no assurance this good investment performance will continue throughout the year, this is a good start.
As of June 30, 2007 the Fund is invested in the following:
American Baptist Foundation Endowment Fund $10,497,352.43
Calvert Social Investment Fund - Bond $1,756,620.63
Calvert Social Investment Fund - Equity $2,938,418.36
$15,192,391.42
This represents an asset allocation of 67.7% equities and 32.3% fixed income, which is well within the Investment Policy’s authorized range.
Anne Mills, Chair
ABCRM Investment Committee |
