April saw a market pullback, in part due to the Fed’s putting off decreasing interest rates. Pundits had been predicting several rate decreases this year, beginning (some said) in March. When that didn’t happen, disappointment reigned. At least for a while. Meanwhile, the continued 5-5.25% rate has enabled fixed income portfolios (and cash, when stowed in high-yielding money market accounts) to do well. The Board of Managers continues to keep a steady weather eye on the market, the Fed, and the economic indicators, making prudent adjustments to the Fund when needed – always with the needs of the parishes, the Diocese, and shareholders in mind.