Diocese of Maryland Invests Diocesan Investment Fund with ECF
November 21, 2019
November 20, 2019, New York, NY - The Episcopal Church Foundation (ECF) is pleased to announce that the Episcopal Diocese of Maryland is investing its Diocesan Investment Fund with ECF’s Endowment Management Solutions (EMS) program and State Street Global Advisors (SSgA). The Fund consists of the diocese’s own long-term endowments as well as those of churches and other organizations in the diocese and is estimated to be $34 million.
“We are thrilled to partner with the Diocese of Maryland in this exciting initiative. The EMS program exists not only to steward and organize financial resources but also to help invigorate ministries and transform the communities involved,” said ECF President Donald Romanik.
In selecting ECF to manage its funds, the investment committee of the diocese was looking for improved operations, benchmarked returns and competitive fees. ECF’s extensive knowledge of The Episcopal Church and its practical expertise in other critical areas were also important factors in the decision-making process.
The Right Rev. Eugene T. Sutton, Bishop of Maryland said, “We are especially pleased to offer this investment opportunity, which will benefit our diocesan mission and the ministries of the congregations that invest with us, to our congregations and institutions. Investing with ECF will allow more of our resources to go toward mission through combined investing efforts, which reduce costs for all.”
Under the ECF program, the Diocese will simplify its oversight and operational responsibilities, while retaining all strategic decision-making authority. “Our program is designed to meet the needs of dioceses such as Maryland,” indicated Carsten Sierck, ECF Program Director. “EMS provides easy fiduciary oversight, streamlined operation of a collective investment program and support for endowment creation and growth.”
The EMS program has over $ 460 million in assets under management and includes partnerships with dioceses, churches, schools and other Episcopal organizations across the country. ECF is an independent organization that helps faith communities engage in visioning and planning, develop leadership and raise and manage financial resources for ministry.
To learn more about ECF’s EMS program, please click here.