Author: Jeremy Taylor
This webinar features a discussion of the complex factors Catholic institutions must consider as they shape their investment strategies for a post-pandemic world. Sharing their views on this seminar are: Scott Malpass, retired Chief Investment Officer of the University of Notre Dame and CIS founder; and Jonathon Hook, Chief Investment Officer of the Weinberg Foundation, a private charitable foundation.
00:00 – Webinar opens, attendees enter
00:05 – Tom Lanctot, CEO of CIS, welcome and panelist introduction
02:20 – Becky Wood, CEO of FEG, welcome and panelist introductions
04:30 – Matt Finke, moderator, opening remarks
05:00 – What adjustments have you made to your investment playbook?
10:30 – Challenges and opportunities, 2021 and the road ahead
20:50 – Impact and Faith-aligned investing
28:00 – Catholic socially responsible investment guidelines and implementation
36:00 – Considerations for defining and creating an investment strategy
43:00 – Blockchain, Crypto and other non-traditional areas for investment
47:30 – How to build an effective investment team
53:30 – Considerations for mitigating inflation risk
56:40 – Catholic constrained investment portfolios
58:20 – Considerations for controlling the spend
1:00:20 – Private market investments
1:04:30 – Considerations for managing smaller endowments
1:06:30 – Thank you and closing
This webinar features Jack Brennan, the Chairman Emeritus of Vanguard and a member of the CIS Board of Trustees, in a discussion of the challenges of building a diversified investment portfolio in an era of historically low interest rates. Topics include Treasury Bond yields, inflations effects, managing risk and working with investment committees to shape responsive strategies.
00:00 – Webinar opens, attendees enter
00:15 – Tom Lanctot welcome and panelist introductions
02:50 – Opening prayer
03:20 – Jack Brennan opening remarks on rates
05:20 – Historical look back at treasuries
07:00 – 3 current challenges for fixed income and yields
10:00 – Inflation and real yields
13:20 – Diversification and the role of fixed income
16:00 – Industry expectations, the 60/40 model and current environment for fixed income
25:00 – Risk assets, investment strategy, and a barbell approach
31:30 – private market investments
34:40 – Risk mitigating opportunities in real estate, infrastructure and private debt
38:10 – Alternative investments, absolute return and hedge fund strategies
41:00 – How to educate committee members on complex investment strategies
43:00 – Considerations for controlling the spend
45:10 – Laudato Si’, ESG & climate risk considerations
49:00 – Thank you and closing
This year’s celebration of National Catholic Schools Week (Jan. 31 to Feb 6) is particularly meaningful as we honor the incredible work that America’s Catholic teachers, administrators and staff have done to nurture their students throughout this difficult pandemic.
All of us at Catholic Investment Services are proud to support Catholic educational institutions as they strive to remain financially resilient so they can continue their vital missions long into the future.
About CIS today
Catholic Investment Services (CIS) is distinct in the investment world for several reasons: our commitment to advancing both Catholic principles and solid investment performance; our passion for helping clients sustain their vital work; and our diligence in providing sophisticated investment solutions and exceptional client service.
But, what truly makes us different is our firm alignment with our clients. We share their Catholic faith and understand their challenges. Like them, we are a non-profit, and thus driven solely by their success. We also share their devotion to effecting positive change in our world, community by community.
From our board of trustees, to our firm’s leaders and team, to our fund investment partners, we are unified in our mission: to build long-term prosperity for Catholic institutions so they can endure and serve well into the future.
For more information please visit: catholicinvest.org
This webinar features a discussion of how the COVID-19 pandemic has challenged investment committees of Catholic institutions, and what these committees can do to adapt and strengthen their approaches for the future. Sharing their views on this webinar are: Paul Schott Stevens, former President and CEO of the Investment Company Institute; Tom Lanctot, CEO of Catholic Investment Services; and Andrew Conner, CIO at Asset Strategy Consultants and long-time investment strategist at Johns Hopkins University.
00:00 – Webinar opens, attendees enter
00:25 – Tom Lanctot welcome and panelist introductions
03:40 – Prayer, “Blessing of Aaron”
04:20 – How has COVID challenged investment committees?
07:20 – What challenges are ahead?
12:30 – Role of the investment committee chair
14:30 – Principals to strengthen your investment program
20:00 – What characteristics make a great investment committee
25:00 – What has changed in the market environment
33:50 – Role of alternative investments in institutional portfolios
37:35 – ESG considerations for investment committees
43:00 – Looking ahead, considerations for investment committees
45:00 – Q&A
45:30 – Q1. How to motivate your committee members
47:20 – Q2. Finding the right committee culture
49:45 – Q3. Alternatives, Fixed Income and the IPS
51:30 – Q4. Education for committees
54:35 – Thank you and closing
Exploring the Potential of Hedge Funds
Introduction
For many investors, the investment universe in recent years has largely been divided into two categories of asset classes: Equities and Fixed Income. The first category, which entails buying shares in companies, is typically seen as the “risky” allocation of an investment portfolio, characterized by sometimes sharp leaps and drops, but historically delivering positive returns over time. Equity investments in public companies, which are traded on public exchanges, get the most attention, but a large private-company universe also plays a role in institutional equity allocations (Request our eBook on this topic).
The second broad category of asset classes is Fixed Income, which comprises mainly government and corporate bonds. Traditionally, these investments have been viewed as a portfolio’s “ballast”, reducing risk while delivering returns that are more predictable and less correlated with equities. But fixed income investments’ effectiveness in this role has come under increasing scrutiny in recent years. This is because interest rates have reached a level where low yields have lessened the ballast effect also making it more difficult for organizations to generate the returns they depend on.
As illustrated in the chart below, the yield on 10-Year U.S. Treasury Bonds has fallen dramatically since 1990, reaching historic lows this year. These yields disappoint investors even more when we consider that they approach a net zero or even negative return when examined in the context of an inflation rate that’s currently near the 1.5% range.
Leaders of Catholic organizations frequently ask us for the basic facts about hedge funds, and how they might potentially benefit them and their missions. Here are some of those basics, which we’ve tried to explain as clearly as possible. We hope you find this guide useful.
For a copy of the full version of Exploring the Potential of Private Equity, please email: info@catholicinvest.org
This webinar features an open discussion of how Catholic institutions can take advantage of strategies involving alternative investments, such as hedge funds, to strengthen and diversify their investment portfolios. Sharing their views on the webinar are: Scott Malpass, retired CIO of the University of Notre Dame; Rick Buhrman, Strategic Advisor to Notre Dame’s Investment Office and university professor; and Stephen Schott, a veteran investment consultant who has worked with many Catholic institutions.
00:00 – Webinar opens, attendees enter
00:15 – Tom Lanctot welcome and panelist bios
03:13 – Opening Prayer
03:40 – Scott Malpass opening remarks
06:12 – Traditional 60/40 vs endowment model, the road ahead
12:09 – How to evaluate fees in the alternative investment space?
16:30 – Allocating to alternative investments
21:35 – Technology enablement, adoption and it’s accelerating effect
26:13 – How do you think about inflation
30:03 – Hedge Fund history lesson
37:50 – Sourcing Investment ideas and partnerships
42:00 – Aligning your investments with Catholic principles
44:23 – Responsible Investment and ESG
46:55 – Advice for executing on alternative investments
51:30 – Special Purpose Acquisition Company’s
54:30 – Revisions to the USCCB SRI Guidelines
57:30 – Thank you and closing
This webinar features an open discussion about the role that private equity can play in the impact investment strategies of Catholic institutions. Moderated by Sister Suzanne Brennan, general treasurer and general counsel at the Congregation of the Sisters of the Holy Cross, this webinar features: Jackie Rantanen, managing director for CIS fund impact provider Hamilton Lane; and Annette Bidart, an investment consultant to foundations, endowments and other investment entities.
0:00 – Webinar opens, attendees enter
0:05 – Tom Lanctot open, panelist bios and introductions
3:45 – “Prayer” by Sister Suzanne Brennan, CSC
5:55 – What are the differences between public and private markets?
08:45 – Where does private equity fit within institutional equity allocations?
11:25 – What are the types of private equity strategies?
14:25 – How do you differentiate between ESG and Impact investing?
16:35 – Time horizons, holding periods and risk profile for private equity
21:40 – Advice for starting a private equity program
28:50 – Return expectations for impact investing
31:05 – Aligning Catholic faith and values with private equity
33:35 – How to measure impact and performance results of your manager
36:00 – Q&A
36:40 – Q1: Are current valuations for private equity attractive?
38:20 – Q2: Consumer staples, healthcare and tech opportunities
43:00 – Q3: Board diversity trends
43:50 – Q4: Updating Investment Policy Statements to include private equity
46:10 – Q5: How important is a network
47:22 – Q6: Measurable impact and the Sisters of the Holy Cross
50:50 – Q7: How important is data, and how does Hamilton Lane utilize
52:05 – Thank you and closing
This webinar features an open discussion of how the public and private market environments may be impacted by the 2020 Presidential election. Sharing their views are: Scott Malpass, recently retired CIO of the University of Notre Dame; Mario Giannini, CEO of Hamilton Lane; and Jay Willoughby, CIO of the Catholic Endowment Fund and TIFF.
0:00 – Webinar opens, attendees entering, speakers chatting
0:10 – Tom Lanctot intro, Catholic Investment Services overview
2:55 – “Pandemic prayer” by Sr. Mary Ann Pajakowski, CSC
4:01 – 4 Themes for today’s discussion: COVID, election consequences, geopolitical situation, Catholic socially responsible investment considerations
4:37 – Current capital market environment, what keeps you up at night
12:00 – COVID, vaccines and a deeper dive
17:24 – Vaccine or the election results, which had a bigger outcome
22:10 – Election results and capital markets
28:07 – Have the results changed your process, geopolitical overview
37:12 – Catholic SRI, ESG and Impact
44:22 – Q&A
44:45 – Q1: U.S. trade relationships and the road ahead
47:50 – Q2: Interest rates and the outlook for fixed income
49:38 – Q3: Catholic SRI, achieving financial returns and measurable impact
52:08 – Q4: How does CIS navigate the biotechnology sector
55:30 – Thank you and closing
This webinar features Jack Brennan, the Chairman Emeritus of Vanguard and a member of the CIS Board of Trustees, in a discussion of endowment best practices, governance in times of crisis, and the differences between traditional and alternative investments. Joining Jack is host Jerry Maginnis, an industry leader and accounting expert who spent 36 years with the Philadelphia office of KPMG LLP.
0:00 – Webinar opens, attendees entering, speakers chatting
0:23 – Tom Lanctot intro, Catholic Investment Services overview
1:22 – “Pandemic prayer” by Sr. Mary Ann Pajakowski, CSC
3:01 – Jerry Maginnis intro
3:41 – Jack Brennan intro, three pillars that have guided Notre Dame’s endowment success
10:18 – Five helpful tips for Catholic fiduciaries on endowment stewardship
15:31 – Balancing the spend, annual stewardship and endowment draw
18:51 – Catholic responsible investment, performance, tips for fiduciaries
25:11 – Trusted partners, Jack’s vision for Catholic Investment Services
31:30 – How economies of scale help drive investment success
34:14 – Q&A
34:30 – Q1: How can an endowment drive diversity and inclusion
37:00 – Q2: How to categorize equity exposure
41:09 – Q3: What role does private equity have in an endowment
46:15 – Q4: Catholic IPS, resources to help create an investment policy
50:48 – Q5: Tips to align annual stewardship and investment stewardship
53:46 – Thank you and closing
As Pandemic Puts Greater Financial Pressure on Catholic Institutions, Faith-Forward Investment Firm Builds, Unveils Unique Educational Web Site
BOSTON, MA – September 30, 2020 – For the past seven years, non-profit Catholic Investment Services (CIS) has been helping Catholic institutions fortify their finances by offering investment strategies that strive for growth while staying true to religious principles. Now, responding to the pandemic’s severe impact on the finances of all Catholic institutions, CIS has launched a new web site with a range of e-books, guides, articles, webinars and best-practice resources – all tailored for those leading Catholic institutions through challenging times and beyond.
“The pandemic has hit our clients very hard because they are being called upon to help more people and communities, even as some funding sources have been disrupted,” said Tom Lanctot, Chief Executive Officer of CIS. “When our team saw how the crisis was escalating this spring, we launched an all-hands-on-deck effort to create relevant educational resources to help our clients – and all Catholic institutions – protect the funds that sustain their missions.”
The centerpiece of this educational initiative is the CIS Institute, which speaks directly to the financial questions and concerns of Catholic institutional leaders. The Institute features such resources as:
- An investment governance eBook;
- A private equity 101 guide;
- Perspectives on the investment implications of the Laudato Si of Pope Francis;
- Economic and investment commentary; and
- Articles featuring leaders of Catholic organizations across the nation.
The CIS Institute also hosts replays of topical webinars the CIS team developed and delivered throughout the year.
“Educating our clients has always been in our DNA, because we know that Catholic institutions have investment needs and questions that are unique,” said Investor Relations professional Jeremy Taylor, CFA who led the creation of the CIS Institute and new web site. “The coronavirus challenged our team to create a lot of great material, very quickly – and the result is a web site that we hope will become the first destination for Catholic leaders seeking relevant investing ideas.”
About Catholic Investment Services (CIS)
Catholic Investment Services is a non-profit firm created in 2014 by Scott Malpass, former Chief Investment Officer for the University of Notre Dame, and Jack Brennan, former chairman and CEO of The Vanguard Group. CIS currently manages about $750 million in assets for Catholic-affiliated endowments, pension funds and other non-profit organizations.