Active Equity Update: Takeaways Entering 2026
2025 remained a difficult environment for many traditional active equity strategies, as markets continued to be narrow and benchmark-driven. In recent research, the Endowment’s investment consultant NEPC noted that fundamentally driven and quality-oriented managers have faced persistent headwinds, though these approaches could meaningfully improve if market sentiment and breadth shift. A major driver of equity […]
UU Common Endowment Fund: 2025 Highlights and 2026 Priorities
2025 was a strong and formative year for the UU Common Endowment Fund (UUCEF). With the oversight of the Investment Committee, the diligence of NEPC, and the work of UUA Finance and the UUA Investment Office, the Fund advanced both competitive performance and deep values alignment. 2025 at a Glance Looking Ahead: 2026 Priorities For […]
UU Common Endowment Fund Selects Untapped Capital to Accelerate Community Investing
The UU Common Endowment Fund (UUCEF) has engaged Untapped Capital Consulting as a specialized advisor to help build and scale its Community Investing (CI) program, a mission-aligned portfolio that currently represents approximately 5% of the UUCEF endowment. UUCEF’s Community Investments provide capital to support development initiatives in low-income communities in the United States and in […]
November Monthly Commentary
Following months of strong returns, global equities took a pause in November. During this period, the S&P 500 Index eked out a modest 0.2% gain amid a relatively positive backdrop of robust corporate earnings, rising expectations for interest rate cuts in the near term, and an end to the longest U.S. government shutdown on record. […]
The UUCEF Adds Index Funds and Reduces Manager Fees, Maintaining UU Values Alignment
Here are two visuals that tell a strategic story about the UU Common Endowment Fund (UUCEF). The first shows actively managed vs. passive passively managed fund allocations over time (excluding cash, community investments, and private markets). “Passive” here means index-replicating strategies, or “index funds” in common terms (chosen with screens to align with UUCEF values […]
October Performance Report Update
Over the last few months we’ve received several inquires about screening and how each manager fits within the fund. In response, we’ve added a new page to the UUCEF Performance Report, Impact Summary. We hope this new page helps to provide a better understanding of each manager within the portfolio. Each manager listed shows if […]
October Monthly Commentary
Global equities continued their stellar run in October with technology stocks driving markets higher across the world. During this period, the MSCI Emerging Markets Index led the way with returns of 4.2% with strong support from Taiwanese and South Korean equity markets. The S&P 500 gained 2.3% in October, benefitting from another strong earnings season […]
Notable Enhancements to the UU Common Endowment Fund
We’ve made a few notable enhancements to the UU Common Endowment Fund (UUCEF) since September, making decisions through the lens of UU values – with each of these, we are living up to our commitments to invest in underserved communities, address both health and economic inequality, and promote environmental justice, while seeking risk adjusted financial […]
September Monthly Commentary
Equities posted another strong month in September with the S&P 500 gaining 3.7% while hitting a new high; large- and small-cap growth indexes were up 5.3% and 4.2%, respectively. Meanwhile, international equities were also in the black with the MSCI EAFE Index returning 1.9% and MSCI Emerging Markets outperforming with gains of 7.2%; both international […]
December Monthly Commentary
Equity markets held their ground in December, with the S&P 500 adding just 0.1% driven by value outperforming growth equities amid heightened scrutiny around the valuations of AI companies. International equities sustained their rally with a tailwind coming from a weakening U.S. dollar. The MSCI ACWI ex-U.S. Index finished the month with returns of 3.0%, […]