Although the Fed has gently postponed any rate decreases, (disappointing the pundits who predicted them the minute the clock turned the corner into 2024), the general the trajectory of the market has been up since 2022. The Fund has followed this trajectory, illustrated in the Calendar Year Performance Chart (below). But it has also shown from its inception a comforting performance rate apparent in the Cumulative Performance Chart (also below). The Easton Episcopal Fund has been in the 28% percentile of the universe of 600 balanced funds for ten years. In addition to this very solid performance, the EEF offers investors the knowledge that it is run by a Board of people with considerable financial experience who keep a weather eye out for any potential cloud on the investment horizon. And the costs to investors are absolutely minimal: 28bp (.28%) of invested funds. No Board member receives any compensation.
A note about benchmarks: At the January meeting of the Board, it was noted that the index the Fund had been using as a benchmark has changed sufficiently to warrant a change of the fixed income investment vehicle. As requested, Axia Advisory had prepared a comparison of performance by several fixed income funds. After discussion, it was decided to change the benchmark for the fixed income portion of the Fund to Bloomberg US Aggregate, which better reflects the totality of the fixed income market. The benchmark was changed to Bloomberg US Aggregate on February 1, 2024.
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