Investment Fund Performance

Q3 2024 UPDATE / OCTOBER 02, 2024

Investment Update

Q3 2024 showed strong performance and built upon the gains from the first half of 2024 for the Diversified Fund and Endowment Investment Fund with the following takeaways: 

  • The U.S. economy continued its year-to-date strong performance, posting positive gains after a volatile beginning to August. 
  • U.S. Equity Markets finished the quarter with gains of 5.9% bringing the year-to-date total to 22.1% 
  • The Federal Reserve had a near unanimous vote to begin to reduce their Fed Funds Rate by 0.50% with the expectation to reduce again through the end of the year. 
  • The Fed’s decision reflects its balanced view of risks, as inflation, while improving, remains somewhat elevated especially in housing and services. 
  • The growth in the stock market for the quarter was fueled by a broader range of sectors compared to earlier in the year where technology was the main driver of gains.

U.S. stocks in the S&P 500 grew 5.9% for the quarter. Small-cap stocks in the Russell 2000 strongly rose 9.3%. International developed market stocks in the MSCI EAFE Index built gains of 7.3%. Bonds in the Bloomberg U.S. Aggregate Bond Index finished higher, up 5.2%.

Benchmark performance will be available later this month once the Lipper Median returns are released.

Sep. 30, 2024 Performance
FUNDQTD1-YR3-YR
Diversified Fund
6.0%21.4%2.1%
Endowment Investment
6.0%21.4%2.2%
Fixed Income
5.1%12.1%(0.4%)
Notes: Historical returns are time-weighted and net of all fees. Returns greater than one year are annualized. Past performance is no guarantee of future returns.

Fund Details – Q3 2023

Diversified Fund
Endowment Investment Fund
Fixed Income Fund

Online Giving

If your church does not have the ability to receive online or electronic gifts, your members can make gifts online at https://lastinggood.org/donate/. They have the option to make a one-time gift or a recurring weekly, bi-weekly, or monthly gift for a specified time via bank account draft or debit/credit card. At the end of the transaction, there is a Message section where they can designate their gift for their church, ministry, and any special instructions. We will then forward the funds to your church to fund ministry. We do not charge a fee for this service but there is a 2.75% processing fee charged by the bank for debit/credit cards. There is no fee for bank account drafts.

Online Account Statements

If you are still receiving paper statements and would like the convenience and quicker receipt of statements, please complete the Google form here: Online Statement Request Form. Online statements are generally available on the second business day of each month. You will receive an email notification when they are available. You also have access to the previous 12 months of statements online.