Leaving a Lasting Legacy
 

Quarterly Investment Summary

 

2021

2020

3rd Quarter Investment Summary
Period Ending September 30, 2021

Investment Performance: 

Rate of Returns are net-of-investment fees:

Click here for fund descriptions and asset allocations.

Back to top

 

Wespath Quarterly Report on KAUMF funds:

Click here to watch the Q3 report on Vimeo. 

Back to top

 

Full Q3 Update from Wespath:

Click here to listen to Wespath Institutional Investments Quarterly Investment Webinar for Q2. 

Back to top

2nd Quarter Investment Summary
Period Ending June 30, 2021

Investment Performance: 

Rate of Returns are net-of-investment fees:

Click here for fund descriptions and asset allocations.

Back to top

 

Market Commentary:

  • The S&P 500 and NASDAQ increased 2.3% and 5.6%, respectively, reaching record levels during the month.
  • Inflation, as measured by the Personal Consumption Expenditure (PCE) Price Index, reached 3.9% year-overyear in May. The Core PCE Price Index, which excludes volatile food and energy prices, rose 3.4%. Similarly, the Consumer Price Index (CPI) increased 5% year over year in May, its largest increase since August 2008.
  • Yields of longer-dated U.S. Treasury securities decreased during the month of June as Federal Reserve officials
    indicated the central bank may increase short-term interest rates sooner than previously projected.

Market Commentary is provided by Wespath Institutional Investments. Click here for Wespath Institutional Investment's full June 2021 Investment Report. 

Back to top

 

Q2 Update from Wespath:

Click here to listen to Wespath Institutional Investments Quarterly Investment Webinar for Q2. 

Back to top

1st Quarter Investment Summary
Period Ending March 31, 2021

Investment Performance: 

Rate of Returns are net-of-investment fees:

Click here for fund descriptions and asset allocations.

Back to top

Market Commentary:

  • The S&P 500, Dow Jones Industrial Average and NASDAQ increased in March amid rising optimism for an
    economic recovery, while fixed income markets declined as U.S. Treasury bond yields rose.
  • President Biden signed into law a $1.9 trillion coronavirus aid spending bill. The package included direct
    checks and jobless aid, as well as money for schools, vaccine distribution efforts, and state and local
    governments.
  • The U.S. economy added 916,000 non-farm jobs in March, marking a seven-month high and exceeding
    economists’ median estimate of 660,000, according to a Bloomberg survey. The unemployment rate
    decreased to 6%.
  • The Conference Board reported that U.S. consumer confidence increased to 109.7 from 90.4 in February, the
    highest reading since the pandemic began.

Market Commentary is provided by Wespath Institutional Investments. Click here for Wespath Institutional Investment's full March 2021 Investment Report. 

Back to top

Q1 Update from Wespath:

Wespath Institutional Investments held its Quarterly Investment Webinar on Thursday, April 22, 2021. Click here to listen

Back to top

Monthly Investment Returns

2021 Monthly Returns are net of investment fees: 

 

Back to top

 

2020 4th Quarter Investment Summary
Period Ending December 31, 2020

Investment Performance: 

Rate of Returns are net-of-investment fees:

Click here for fund descriptions and asset allocations.

Back to top

 

Market Commentary:

  • The S&P 500 increased 3.8% in December and 18.4% for the full year 2020. International stocks, as measured by the MSCI ACWI ex-USA IMI, increased 5.6% for the month and 11.1% for the year.
  • President Trump signed into law a spending bill, which Congress approved earlier in the month. The $2.3 trillion package includes an additional $900 billion of coronavirus relief.
  • The U.S. Food and Drug Administration (FDA) authorized the use of COVID-19 vaccines produced by PfizerBioNTech and Moderna.
  • The U.S. economy lost 140,000 non-farm jobs in December, as social distancing restrictions led to job cuts in leisure and hospitality. The unemployment rate remained at 6.7%.

Market Commentary is provided by Wespath Institutional Investments. Click here for Wespath Institutional Investment's full December 2020 Investment Report. 

Back to top

 

Q4 Update from Wespath:

Wespath Institutional Investments held its Quarterly Investment Webinar on Thursday, January 21. Click here to listen

Back to top

2020 3rd Quarter Investment Summary
Period Ending September 30, 2020

Investment Performance: 

Rate of Returns are net-of-investment fees:

Click here for fund descriptions and asset allocations.

Back to top

 

Market Commentary:

  • The U.S. accounted for more than 20% of nearly 34 million global COVID-19 infections, and the virus’ death toll surpassed one million globally.
  • The U.S. economy added 661,000 jobs in September, and the unemployment rate decreased to 7.9% from 8.4% in August.
  • The S&P 500 declined 3.8% for September amid concerns about rising COVID-19 cases and the congressional stalemate over a bill to provide additional economic relief.

Market Commentary is provided by Wespath Institutional Investments. Click here for Wespath Institutional Investment's full September 2020 Investment Report. 

Back to top

 

Q3 Update from Wespath:

Wespath Institutional Investments held its Quarterly Investment Webinar on Thursday, October 22. Click here to listen

Back to top

2020 2nd Quarter Investment Summary
Period Ending June 30, 2020

Investment Performance: 

Rate of Returns are net-of-investment fees:

Click here for fund descriptions and asset allocations.

 

Market Commentary:

  • Countries continued to reopen their economies from COVID-19 shutdowns, although data indicates a potential second wave of COVID infections. More than 125,000 Americans have died from COVID-19, while the global death toll reached 500,000.
  • The stock market rally continued in June; the S&P 500 returned 20.5% for the second quarter, its strongest quarterly performance since 1998.
  • The U.S. economy created 4.8 million jobs in June, which exceeded most economists’ forecasts; the unemployment rate fell by 2.2 percentage points to 11.1%.

Market Commentary is provided by Wespath Institutional Investments. Click here for Wespath Institutional Investment's full June 2020 Investment Report. 

 

Back to top

 

Q2 Update from Wespath:

Wespath Institutional Investments held its Quarterly Investment Webinar on Thursday, July 23. Click here to listen

Back to top

 

2020 1st Quarter Investment Summary
Period Ending March 31, 2020

Investment Performance: 

Rate of Returns are net-of-investment fees: 

Click here for fund descriptions and asset allocations.

 

Market Commentary:

  • The rapid escalation of the COVID-19 virus into a global pandemic drove U.S. equity markets to record high volatility levels, as measured by the CBOE Volatility Index (VIX). The VIX hit an all-time high of 82.7 on March 16, which was just above its peak during the 2008 financial crisis.
     
  • The S&P 500 declined nearly 34% between February 19 and March 23, representing both the fastest bear market decline and fastest 30% decline, exceeding records set during the Great Depression. This was followed by the largest daily percentage gain ever for the Dow Jones Industrial Average.

  • Oil had its worst quarterly performance ever due to slowing demand from COVID-19 mitigation efforts, as well as a price war between Saudi Arabia and Russia. The West Texas Intermediate crude oil price fell 66% year to date to $20.48 per barrel at month end.

  • The Federal Reserve (Fed) implemented a large and rapid monetary policy response, cutting interest rates by 150 bps and enacting programs designed to stabilize markets and provide liquidity to investors.

  • U.S. lawmakers passed a $2.2 trillion emergency aid bill that will provide funds to individuals, state and local governments, healthcare facilities, and businesses severely impacted by the crisis.

  • New jobless claims totaled nearly 10 million in the two weeks ending March 28, each surpassing the previous weekly record of 695,000 filed in 1982. Non-farm payrolls, as reported by the Bureau of Labor Statistics (BLS) declined by 701,000 jobs through March 14. This does not include significant claims at month end, which the BLS will include in its April release.

  • In March, the Multiple Asset Fund-I Series, U.S. Equity Fund-I Series, International Equity Fund-I Series, Fixed Income Fund-I Series and Inflation Protection Fund-I Series all underperformed their respective benchmarks.

Market Commentary is provided by Wespath Institutional Investments. Click here for Wespath Institutional Investment's full March 2020 Investment Report. 

 

March Update from Wespath:

Wespath Institutional Investments held its Quarterly Investment Webinar on Thursday, April 23. Click here to listen

Dave Zellner, Chief Investment Officer with Wespath Institutional Investments, shared a Markets at a Glance update for March 2020. Click here to listen to the update. 

 

Back to top

 

Fund Asset Allocations

Balanced Fund: The Balanced Fund seeks to maximize long-term investment returns, including current income and capital appreciation, while reducing short-term risk by investing in a broad mix of investments. This fund provides a simple solution for long-term legacy investments, with an asset allocation of 65% Equity and 35% Fixed Income. 

 

Equity Fund: Seeks to earn long-term capital appreciation primarily from a broadly diversified portfolio of foreign and domestic funds, with a target mix of 55% U.S. Equity Fund and 45% International Equity Fund.

 

Fixed Income Fund: Seeks to earn current income by investing in a broadly diversified portfolio of fixed-income instruments.

 

Short Term Fund: The Short Term Fund seeks to provide a low risk investment option for the preservation of capital. This funds is a competitive option for shorter term investment needs, such as renovations, capital campaign pledges, known capital needs, etc.

 

Back to top