UUCEF Sells Enbridge Holding
Acting on the recommendation of the UUA Socially Responsible Investing Committee, this month the UUA Investment Committee decided to sell Enbridge Inc. in the UUCEF’s separately managed accounts. Enbridge, an oil and gas pipeline company, is a partial owner of the Dakota Access Pipeline (DAPL) and is actively building the Line 3 pipeline in Minnesota […]
February Monthly Commentary
Following the volatile month of January, U.S. equities got off to a strong start in February, bolstered by optimism around ongoing inoculations, improving COVID-19 trends, and the proposed stimulus plan. However, as the weeks progressed, continued upward pressure on interest rates negatively impacted stocks amid concerns around the potential implication for valuations. Despite the increase […]
January Monthly Commentary
After a strong start to the year, developed market equities subsequently reversed course, ending January in the red. In the U.S., the S&P 500 Index fell 3.3% in the week ended January 29, pushing the monthly return into negative territory. The market volatility was fueled by a short squeeze in a number of heavily-shorted names, […]
December Monthly Commentary
Global equities ended 2020 with a bang, adding to already sizable gains from earlier months, as positive news around COVID-19 vaccines and a fiscal stimulus plan bolstered sentiment. In the U.S., the S&P 500 Index increased 3.8% in December; small-cap equities outperformed with the Russell 2000 Index gaining 8.7% last month. Non-U.S. equities outperformed their […]
November Monthly Commentary
November was a momentous month as investors, emboldened by the results of the U.S. elections and the potential success of multiple COVID-19 vaccines, bid up equities. The twin prospects of a divided government resulting in the likelihood of a diminished agenda for President-elect Biden, and the imminent implementation and distribution of the coronavirus vaccines fueled […]
October Monthly Commentary
Developed market equities faltered in October amid a wave of risk aversion fueled by an uptick in new cases and hospitalization rates for COVID-19 in the U.S. and Europe. Domestic equities posted their second straight month of declines as volatility in the final trading days of October, incited by diminishing hopes of a pre-election fiscal […]
September Monthly Commentary
U.S. equities snapped their winning streak in September, upending five straight months of gains as technology heavyweights came under pressure and the pandemic continued to roil the economy; the S&P 500 Index fell 3.8% last month but ended the third quarter with returns of 8.9%. While non-US equities were also in the red in September, […]
UUA Issues Statement on Final 14a8 Rules
The new rules governing the shareholder resolution process announced today by the Securities and Exchange Commission (SEC) provide no benefit to investors. In fact, they will shelter corporate managers from accountability to shareholders. The Commission offered no evidence that shareholder resolution process is broken. This is a fix for a non-problem. The shareholder resolution process […]
UUA Adopts Business Resolution on Human Rights Investing
At its 2020 virtual General Assembly, the UUA adopted a Business Resolution on Embodying Human Rights in Our Investment Decisions. Ninety-five percent of delegates voted for the resolution, which was sponsored by a wide range of UU social justice organizations and supported by the UUA Socially Responsible Investing Committee and Investment Committee. At their joint […]
August Monthly Commentary
Equities continued their winning streak in August—marking the fifth straight month of gains—amid improving investor sentiment bolstered by ongoing stimulus, better than expected quarterly earnings, and optimism around a vaccine. In the US, the S&P 500 Index returned 7.2%, gaining in all but five trading days, ending the month at 3,500. Non-US equities benefited from […]