The Value of Diversification
By Tim Brennan, Treasurer & CFO, UUA Here’s a question I get a lot: why doesn’t The UU Common Endowment Fund, LLC (UUCEF) put more of its assets into US stocks? And conversely, why keep investing in international stocks? After all, US stocks are outperforming international markets. Here’s why: the UUCEF follows an investment strategy […]
The Disease of Doubt
Concerned about the recent short-term performance, read the latest white paper from NEPC’s Chief Investment Officer, Timothy McCusker. Doubt can be a pesky thing. Once infected with it, it is hard to shake off. It makes you second guess what you thought you were sure of. It’s contagious too. And there’s no flu shot for […]
September Monthly Commentary
Equities posted modest gains in September amid oscillating investor sentiment fueled by uncertainty around potential interest rate hikes by the Federal Reserve. Earlier last month, Boston Fed President Eric Rosengren surprised markets with a more hawkish view regarding future interest rate increases. In response, stocks sold off but subsequently rebounded as the Fed confirmed that […]
The Climate Accountability Scorecard: Ranking Major Fossil Fuel Companies on Deception, Disclosure, and Climate Action
Today, the Union of Concerned Scientists released a new in-depth analysis scoring major fossil fuel companies on their climate actions. The Climate Accountability Scorecard: Ranking Major Fossil Fuel Companies on Deception, Disclosure, and Climate Action used 30 metrics to examine Arch Coal, BP, Chevron, ConocoPhillips, CONSOL Energy, ExxonMobil, Peabody Energy and Royal Dutch Shell. Significant variations […]
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 […]