July Monthly Commentary
After a rocky end to the second quarter, global equities bounced back in July and posted gains in most major markets. As Brexit shockwaves dissipated, equity volatility subsided and international equities surged amid a supportive central banking backdrop. The MSCI EAFE returned 5.1% as the European Central Bank and Bank of Japan both continued expansive […]
The Brexit Club: Thoughts on Political Risk and the Market Rally
Introduction: Markets witnessed quite a surprise in the second quarter as the United Kingdom voted to leave the European Union. Concerns of increased political risk in the UK and Europe briefly jolted equity and currency markets across the globe. Risk assets sharply sold off but quickly reversed as market concerns abated. US markets followed suit […]
Brexit…What Now?
In addition to the monthly commentary provided by our consultants, NEPC, here are some of their thoughts on Brexit. The outcome of the United Kingdom’s referendum to leave the European Union has stunned forecasters and market participants. Markets responded in dramatic fashion today with Local European and UK equities down 7% and 3% respectively. Currencies fell […]
June Monthly Commentary
Global equity market returns in June were marked by anticipation of and then fallout from Britain’s referendum to exit the European Union. Leading up to the vote investors expressed cautious optimism as polls remained tight but markets were mostly pricing in a “Remain” outcome. As of June 23rd the MSCI EAFE was up 1.3% and both the […]
Divestment and Negative Screening
Wondering how the UUA defines divestment and negative screening? Those definitions were provided at this year’s General Assembly. Divestment is the act of publicly and intentionally selling shares of a company as a part of a vocal movement due to a desire to reprimand them for the behavior. To be effective, it requires a coalition […]
May Monthly Commentary
US equity returns were modestly positive in May as investors digested mostly lukewarm economic data. The S&P 500 returned 1.8% and the Russell 2000 gained 2.3% on the month. The month began with investors speculating the Federal Open Market Committee might raise rates in June however this expectation was quickly quelled as US job growth numbers […]
An Update for UUCEF, LLC Account Holders
A quick update to UUCEF unit holders regarding the annual shareholder meeting at Exxon Mobile. Shareholder pressure is increasing for various types of responses to climate change. We are hopeful that this proxy voting season will result in progress on the climate front.
Progress in Clean Climate Advocacy
The UUA has long been a leader in shareholder advocacy on environmental issues—a role that was affirmed by the 2014 business resolution on fossil fuel divestment. Working with other active shareholders and advocates, the UUA is helping to uncover deceptive and non-science based advocacy by fossil fuel companies. Additionally, the UUA’s past efforts have set the […]
A Big Win for Proxy Access
SEC Issues No-Action Letters Regarding Shareholder Proposals Contested on “Substantial Implementation” Grounds 03/10/2016 Bruce Newsome , Weston Love On February 12, 2016, the Securities and Exchange Commission (the “SEC”) issued18 no-action letters concerning requests to exclude proxy access shareholder proposals from proxy materials pursuant to Rule 14a-8(i)(10) of the Securities Exchange Act of 1934, as amended. Rule 14a-8(i)(10) […]
April Monthly Commentary
Global markets were calmer in April following a volatile first quarter amid easing concerns of a sharp economic slowdown in China and as the Federal Reserve reconfirmed a gradual pace to increasing interest rates. The S&P 500 gained 0.4% while emerging market equities returned 0.5%. Non-US developed equity markets led the way with the MSCI […]