Banner year for TEC trusts

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The treasurer’s office of the Episcopal Church of the USA reports the church’s investment performance continues to be strong. In a statement released on 31 July 2014 the church’s chief financial officer, N. Kurt Barnes said: “Annual returns after all fees and expenses were 18.6%, 14.1% and 7.7% for the one-, five- and 10-years ending March 31, 2014 – ranking within the top 20% of all foundations with assets over $50 million as tracked by the InvestorForce Performance Reporting Network (subsidiary of MSCI Inc.).” The income from the $380 million trusts fund approximately 25 per cent of the church’s  annual budget.