This year has been surprisingly busy. We have received more than $3 million in new investments and have had $1.2 million in redemptions for a net gain in shareholder investments of $1.8 million. We began the year with $35.4 million and now have $41.7 million, a gain of $6.3 million.  Our year-to-date return as of September 26 was 14.59% placing us in the top 18% of balanced funds with an equity weighting between 50% and 70%.

Since inception, the Board of Managers has been blessed with a wealth of financial and investment experience among its members. Sadly this year, we have suffered the loss of Ron Geesey and Bill Shettle, but are fortunate to welcome Ray Munch back as a voting member of the BOM and Richard Wright as a member of the Investment Advisory Board.  We are lucky to have such talented and dedicated individuals help us in formulating our investment strategy.  We still hope to include a representative from the Southern Convocation on the Board of Managers.

The Fed’s 50bp reduction in the interest rate in mid-September was prompted by milder, more stable economic info and signaled confidence in the resilience of the US economy in the foreseeable future, despite global uncertainty. The BOM, whose members had anticipated the rate reduction, is always on the alert for the opportunities a changing economic landscape can offer while bearing in mind the ongoing missions of our investors.