Phew! It’s been a volatile year. Even so, the Fund was up 14.60%, which put the Easton Episcopal Funds in the top 26% of the universe of comparable balanced funds. The Board of Managers, who carefully watch the market, interest rates, inflation and unemployment, and of course the Fed, have worked assiduously to keep the Fund on a prudent course despite the noise. Uppermost in the minds of BOM members is maintaining performance over rolling three year periods that will return the BOM-recommended Constant Rate of Return (5% currently) for shareholders while continuing to grow the Fund with the least risk possible. Throughout the Fund’s 15-year history, the Board has met that goal.