Overall, 2021 was a good year.
Steady, experienced hands continue to guide the Easton Episcopal Fund, which continues to do well.
Mendenhall steps down; the Board welcomes Diane Robinson, who comes with 39 years of investment experience.
The Fund continues to perform in the top half of the competitive universe.
As volatile as November was, it is gratifying to report that we were in the top half of the competitive universe for the month, despite a decline of 1.49%.
October was kinder to the market in general and the Easton Episcopal Funds in particular. We exceeded the benchmark in the Fund overall by 0.7%.
Our average 3-year return since inception is 8.25%, so we have met one of our primary goals: meeting the Constant Rate of Return while growing the fund.
While the market pulled back in September, and the EEF along with it, long-term EEF returns remain positive and better than our benchmark.
As visible in the August 31, 2021 X-ray, the Easton Episcopal Fund continues to outpace its benchmark.
The Board of Managers has developed a very specific asset allocation decision tree. Based upon input from our outside advisor, our own investment advisory board and the judgement of the Board, we gradually substantially moved our equity allocation above our benchmark weight of 65% to a maximum of 73%. This decision was based on our perception…
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