The previous year was a good one for the Easton Episcopal Fund, which was up 15% year over year, performance that placed the Fund in the top 25% of comparable balanced funds. The Fed appears to have paused moving rates in either direction for the foreseeable future, which means that interest rates remain at a level that offers a respectable dividend from fixed income. The Board of Managers, mindful that we are in a transitional time, are keeping close watch on the market with both the short-term and long-term performance of the Fund in mind.
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