Investment Fund Performance

Q2 2022 UPDATE / July 5, 2022

Investment Update

As mentioned last quarter, the markets continue to experience increased volatility in 2022 due to: 

  • Highest inflation levels in 40 years
  • Recession probability rising
  • Stocks in bear market with 20+% losses
  • Fed interest rate hikes lead to double-digit bond losses
  • More Fed hikes expected in the second half of 2022

U.S. stocks in the S&P 500 have declined 20.0% YTD. Small-cap stocks in the Russell 2000 declined 23.4%. International developed market stocks in the MSCI EAFE index were down 19.6%. Bonds also struggled with the Bloomberg U.S. Aggregate Bond Index down 10.3%.

During periods of extreme market volatility, it can be difficult to keep a long-term perspective as the market declines are stressful and real. We remain focused on the long-term nature of endowments, portfolio diversification, and a disciplined approach. Our investment manager, Wespath Institutional Investments, shares the same investment philosophy. Wespath has successfully weathered many market downturns over the past century and will continue to prudently manage our assets, staying true to their long-term investment approach.

Additional Q2 comments from Wespath https://www.wespath.com/Investor-Resources/Blog/0043

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

June 30, 2022 Performance
FUNDYTD1-YR3-YR
Diversified Fund
Lipper Median*		(18.4%)
(15.5%)		(17.8%)
(12.7%)		3.1%
3.6%
Endowment Investment
Lipper Median*		(18.4%)
(15.5%)		(17.8%)
(12.7%)		3.1%
3.6%
Fixed Income
Barlays Capital Aggregate Index		(11.4%)
(10.4%)		(11.6%)
(10.3%)		(0.9%)
(0.9%)
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.

* - Median returns from the Lipper mutual fund universe for balanced funds in the asset class category. As of 6/30/22, the universe consisted of 4,356 peers. Source: Wilshire Associates, Lipper, and Wespath

Fund Details – Q2 2022

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.