Easton Episcopal FundsCategory: Investment Approach
From the Report to Convention
We believe that performance should be measured using a rolling three-year calculation, which
offers a more accurate measure over time than one short-term uptick or downturn. Using this
calculation, our rankings were quite low in our beginning years when our assets were managed by
outside advisors. March 2013 was the end of the first three-year period for the Easton Episcopal
Funds. Unfortunately, each of our outside managers failed to meet either the Board’s clearly
expressed expectations or their own performance projections. Since none were able to meet their targets, we ended contracts with outside managers in 2013, 2015, and 2016.
Ranking by Morningstar
The Easton Episcopal Fund ranks in the top third among peers. The ranking is based on its 3- and 5-year annualized returns when compared with Morningstar “Moderate Allocation” Funds, a universe of approximately 900 funds with a 50%-70% equity allocation is… (Click title to read more)
Read MoreHistorical Quarterly Performance vs Benchmark
The chart below compares the fund return against our benchmark for each quarter since inception. The column on the far right shows the calendar year (or YTD) return. After the change to internal management in 2016, the Fund performance has exceeded the benchmark 60% of the periods. (Click title to read more)
Read MoreBOM Investment Policy
The Easton Episcopal Balanced Fund shall be invested with the objective of maintaining the real value of the principal of the fund over time, while supporting the needs of the diocese and parishes. The performance of this fund, after all fees, is targeted to meet or exceed the benchmarks described later in this document overtime periods of at least three years. All investments will conform to the prudency standards of Maryland law.
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