Investment Fund Performance

Q4 2022 UPDATE / January 5, 2023

Investment Update

The fourth quarter produced the only quarter of positive performance in a challenging year for the markets:

  • Highest inflation levels in 40 years but showed signs of easing in Q4
  • Global central banks continued to tighten with mixed signals on future moves
  • Fed rate hikes lead to historic bond losses
  • Higher probability of a global recession
  • S. dollar near 40 year high but declined in Q4
  • Geopolitical uncertainties / Russia-Ukraine

U.S. stocks in the S&P 500 declined 18.1% for the year.  Small-cap stocks in the Russell 2000 declined 20.4%.  International developed market stocks in the MSCI EAFE index were down 14.5%.  Bonds also struggled with the Bloomberg U.S. Aggregate Bond Index down 13.0%.

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 Q4 comments from Wespath can be found at: https://www.wespath.com/Investor-Resources/Blog/0053

Benchmark performance will be available later this month once the Lipper Median returns are released and can be found at https://lastinggood.org/funds .

Dec. 31, 2022 Performance
FUNDQTRYTD3-YR
Diversified Fund
Lipper Median*
7.4%
6.3%
(17.7%)
(14.9%)
1.5%
2.0%
Endowment Investment
Lipper Median*
7.4%
6.3%
(17.7%)
(14.9%)
1.5%
2.0%
Fixed Income
Barlays Capital Aggregate Index
2.6%
1.9%
(12.6%)
(13%)
(2.2%)
(2.7%)
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 10/18/22, the universe consisted of 4,257 peers. Source: Wilshire Associates, Lipper, and Wespath

Fund Details – Q4 2022

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.