August Monthly Commentary
Coming on the heels of a rally in July, equities posted modest returns in August as volatility hovered around historic lows. In the US, small-cap stocks marginally outperformed large-cap equities, with the Russell 2000 returning 1.8% last month compared to the S&P 500’s 0.1% gain. Equities in developed markets also posted moderate returns. The MSCI […]
Nonprofit Organizations: Annual Audit Survival Guide
Many nonprofit organizations are recognized under section 501(c)(3) of the Internal Revenue Code (IRS) and therefore considered exempt from paying federal income taxes. Despite this reprieve, federal and most state governments levy several other “taxes” on nonprofit organizations resources in the form of financial regulation, including but not limited to the dreaded annual financial statement […]
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 […]