Fund Continues to Advance in April

Osprey Capital Management
April 16, 2021

Summary to April 15, 2021

The overall portfolio, calculated by Morningstar, for the period January 1 – April 15, 2021 advanced 7.09%. The overall equity return was 11.13%: 11.70% for the domestic portfolio and 7.41% for the international. Fixed income lost -2.67%. During this period the Russell 3000 advanced 11.60%, MSCI ACWI ex USA 6.65% and Barclays Intermediate Credit Fund -2.35%. On April 15 there was a $287,000 cash position. Comparing the Easton Episcopal Funds to a universe of actively managed mutual funds tracked by Morningstar that typically have between 50% and 70% of assets invested in equity, which they term Moderate Allocation Funds, the YTD return to April 15, 2021 (7.09%) places the Easton Episcopal Funds in the 37th percentile for this period.

Asset Allocation

The Board of Managers continues to determine the allocation of all assets of the funds. This strategy follows a passive asset allocation model utilizing indexing. The current asset allocation is approximately 62% domestic equities, 10% international equities and 26% fixed income. The balance is cash. The Portfolio Manager’s Report shows additional detail about tactical and actual allocations.