May was kinder in the market, despite the continued volatility in politics and in the news. The Fund, which as of the 31st of May manages $52 million of our shareholders’ investment funds, ended the month with an 8.30% gross return, 40bp better than the benchmark at 7.90%.

One of the ways the Easton Episcopal Fund offers competitive-while-prudent investment returns is by keeping its costs extremely low. As we’ve noted before – but it’s worth reiterating for any new investors, especially – none of the members of the Board of Managers (BOM), most of whom have considerable professional investment experience, is that none is compensated in any way for their work on the BOM and with the Fund. It is a commitment that all have made to benefit the whole: the parishes and their missions; the diocese; and the other Episcopal entities who are shareholders in the Fund. Most know that no investment, however canny, is without its possible pullback. But a look at the charts on page 4 of the Monthly Investment Review, which includes cumulative performance since inception in 2010, the result for shareholders over time speaks for itself.