After reaching an all-time high during the quarter, U.S. equities in the S&P 500 Index retreated (4.7%) in September but remained slightly positive for the quarter. Global equities saw similar declines in September. Contributing to the decline were continued inflation concerns and the Fed’s plans to begin tapering its bond buying stimulus efforts, supply chain issues related to COVID, China Evergrande Group’s financial troubles, and rising bond yields adversely affected valuations of technology companies.
U.S. stocks in the S&P 500 gained 0.6% for the quarter. Small-cap stocks in the Russell 2000 were down 4.4% for the quarter. International developed stocks in the MSCI EAFE Index were down 0.5% for the quarter. The Barclays U.S. Aggregate Bond Index gained 0.1% for the quarter.
Benchmark performance comparisons will be available later this month once the Lipper Median returns are released.
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.
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.