Highlights
During the 2013 calendar year, fees paid by investors for each dollar invested in the Wespath Multiple Asset Fund (MAF) declined over 10% (when compared to 2012), as the fund’s total expense ratio declined from 0.67% to 0.59%.For the year-to-date period ended March 31, 2014:
•The net-of-fees returns for all six of Wespath’s funds were positive year-to-date. Click here to view fund performance as of March 31, 2014.
Performance Updates
•View the March 2014 Investment Report, including an overview of the markets for the previous month, information on economic and geopolitical developments that impact the markets, and March, as well as year-to-date fund performance data. •On Thursday, April 24, Wespath hosts its “Quarterly Update” webinar at 1:30pm Central Time. To register, please click here.
Shareholder Advocacy Updates
•Wespath’s senior research analyst, David Foster, highlights the Corporate Relations team’s shareholder advocacy engagements during the previous year in, “To Serve the Present Age: Socially Responsible Investing at Wespath Investment Management: 2013 in Review.” •Wespath’s leadership role among a group of institutional investors that engaged in a multi-year dialog with executives at Bristol-Myers Squibb culminated in the biopharmaceutical company’s announcement of a licensing agreement with the Medicines Patent Pool. The agreement will make the HIV medicine Atazanavir more accessible to individuals worldwide, especially in Africa where the drug’s availability was previously limited. Please click here to view a press release.
Addition of New Strategies to the Wespath Funds
During the first quarter, Wespath committed to invest approximately: •$100 million of the $4.5 billion Fixed Income Fund in a private fund to be managed by Lone Star Funds. This fund will target distressed debt opportunities across the globe.
•$150 million of the $7.1 billion U.S. Equity Fund in a private equity fund-of-funds managed by J.P. Morgan’s Private Equity Group. The fund will invest in strategies that include buy-outs, refinancings, acquisitions, recapitalizations and mezzanine opportunities.
•$50 million of the U.S. Equity Fund in a venture capital fund-of-funds (also) managed by J.P. Morgan’s Private Equity Group. The fund will focus on investments in businesses that are in a seed or start-up phase within the information technology, software, media, and life sciences sectors.
•$40 million of the U.S. Equity Fund in a private real estate fund managed by CBRE Global Investors. The manager plans to invest directly in office, multi-family residential, hotel and industrial properties within the fund.
Updates to Wespath.com
•The Wespath.com website was updated to incorporate photos of employees recognized for their ongoing contributions to the Wespath division of the General Board of Pension and Health Benefits.
Staff Additions & Promotions
•In response to four consecutive years of growth in the number of United Methodist organizations who have selected Wespath as a provider of investment services, Natalie Salb was hired to fill a newly-created position of Marketing Manager and Karen Manczko was promoted to Institutional Relationships Manager.
Upcoming Events:
•Wespath is among the sponsors of:oThe International Association of United Methodist Schools, Colleges, and Universities’ 2014 Conference in Hiroshima, Japan, May 24-28.
oThe 2014 National Association of Schools and Colleges of The United Methodist Church (NASCUMC) Annual Meeting in Denver, Colorado, July 27-30.
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