In this webinar, the panel discussed developments since the release of Mensuram Bonam a year ago. This webinar featured CIS Board Chair and Founder Scott MalpassBernard Brenninkmeijer, Chairman of Porticus North America and a leading Catholic investor and philanthropist, Fr. Séamus Finn, OMI, Director of the Oblates’ US Province Office of Justice, Peace, and Integrity of Creation, and Katie McCloskey, Vice President of Social Responsibility, Mercy Investment Services. The panel also discussed outcomes from the recent Mensuram Bonam Faith Consistent Investment Conference sponsored by the Vatican, where all panelists above participated as speakers.

00:00 – Tom Lanctot, CIS CEO, Welcome and opening prayer

03:50 – Scott Malpass, CIS Founding Chair, Introduction and starting the conversation

06:00 – History of Mensuram Bonam

09:53 – Discernment, how the committee approached MB

15:00 – How is Mensuram Bonam received?

17:20 – USCCB Guidelines vs. Mensuram Bonam

21:38 – Impact investing for Catholic institutions

26:15 – Engagement as a Catholic investor

28:30 – What is the difference between Catholic investing and ESG?

34:13 – Q: How should the investment committee of a Catholic institution formulate faith-based standards as part of their investment policy statement and objectives? How do they develop metrics and benchmarks around those standards?

37:00 – Q: What can small religious communities do to work with Mensuram Bonam if they don’t have institutional-sized endowment funding but invest in accordance with the USCCB guidelines?

38:51 – Follow-up and resources on Mensuram Bonam

43:03 – Q: How does Mensuram Bonam and the various bishops conferences address private capital?

50:00 – Opportunities and the road ahead

52:18 – Q: What was the level of engagement with non-religious organizations in the development of Mensuram Bonam?

54:08 – Q: Is Catholic investing concessionary?

57:50 – Thank you and closing

Economic strain across many factors has continued to create challenges for Catholic institutions who seek to grow their endowments so that they may sustain their vital ministries. This webinar was a wide-ranging discussion that focused on the macro and micro environment and outlook for the new year. This webinar featured Jack Brennan, CIS Founding Chair & Chairman Emeritus, The Vanguard Group, and Joseph Davis, Vanguard’s global chief economist and global head of the Investment Strategy Group, as they assessed the current state of the capital markets, highlight investment challenges and risks, and share best practice ideas on institutional investment themes. Joe also touched on his new book titled “Megatrends”, which demonstrates how AI, debt, demographics and deglobalization may impact the economy and markets in the coming decade. The info session concluded with questions from the audience.



00:00 – Tom Lanctot, CIS CEO, Welcome and opening prayer

03:02 – Jack Brennan, CIS Founding Chair, Introductions and starting the conversation

08:18 – How the forecasts were wrong about the economy and what the implications are

11:28 – The appeal of cash as an asset class

15:43 – Are recessions healthy?

17:38 – The rising rate environment

19:47 – The past and future of the 60/40 portfolio

23:46 – Inflation in the next 5 years

26:53 – Global portfolios: will we see globalization or deglobalization?

30:21 – Risk management and geopolitics

32:45 – The advent of alternative investments

36:13 – Megatrends and our financial future

46:50 – Q: Will there be positive or negative correlations between stocks and bonds in the future?

48:40 – Q: From an endowment point of view with an infinite time horizon, why not be in stocks entirely and avoid bonds in a portfolio?

51:35 – Q: Increases in prices seem to be holding despite decreasing inflation and wages; what is the long-term implication as prices seem to outpace wage increases?

54:22 – Thank you and closing

In this webinar, we highlight ten common pitfalls of building a Catholic foundation, and how to address them. This is a continuation of our previous webinar, on Strengthening and Structuring Catholic Foundations and Trusts. In this webinar, you will hear from Catholic fiduciaries and industry experts sharing practical advice on the ten most common mistakes to avoid when building a Catholic foundation, and offering best practice solutions.

00:00 – Webinar opens, Zela Astarjian, CIS Managing Director, Welcome and Introductions

08:49 – Opening Prayer, Elizabeth Tomlin, Archdiocese for the Military Services

09:17 – Paulita Pike, CIS Trustee, Beginning the conversations on pitfalls for Catholic foundations to avoid

10:33 – Pitfall #1: Not defining your mission

17:50 – Pitfall #2: Not having timely, adequate staffing

24:17 – Q: Can Catholic foundations sign agreements with a diocese so that financial management staff can safely manage while stewarding funds appropriately?

25:57 – Pitfall #3: Not setting reasonable expectations nor timelines

31:10 – Pitfall #4: Not prioritizing hires appropriately

38:50 – Pitfall #5: Lack of proper governance

40:49 – Pitfall #6: Not contemplating canonical implications

42:43 – Q: Is there a recommended amount of assets before it makes sense to start a separate foundation?

45:00 – Pitfall #7: Commingling assets with confusion of assets between a foundation and archdiocese

48:14 – Pitfall #8: Not paying attention to details

41:00 – Pitfall #9: Not understanding your investments

54:30 – Pitfall #10: Not investing wisely

59:50 – Thank you and closing

In this webinar you will hear about AI and the future ahead. AI has recently taken the world by storm. Its groundbreaking capabilities are being used for customer service, generating more reliable credit scores, enabling trading and money management, regulatory compliance, security and fraud prevention, and more. This dynamic discussion features Jack Brennan (CIS Founding Chair & Chairman Emeritus, The Vanguard Group), John Behrens (Director, College Technology Initiatives College at University of Notre Dame) and Brian Barbetta (Wellington Global Industry Analyst) and Shelley Zhuang (Founder and Managing Partner at 11.2 Capital). The info session concluded with questions from the audience.

00:00 – Tom Lanctot, CIS CEO, Welcome and Introductions, Opening Prayer

03:06 – Jack Brennan, CIS Founding Chair, Starting the Conversation on Artificial Intelligence

04:31 – Generative AI Overview, John Behrens

15:57 – Artificial Intelligence and its Implications

19:00 – AI at the Macro Level

24:05 – Watson vs. ChatGPT

26:35 – Generative AI, Challenges and Opportunities

34:00 – Impact and the Economy

37:04 – What’s Next for the Workforce

38:56 – Security Risks

41:00 – It’s All About the Data

44:56 – Q: Does AI diminish the human spirit?

46:10 – Q: How can you protect yourself from misinformation?

48:01 – Q: What is the single biggest ethical issue with AI?

50:15 – Q: What are the implications for hardware?

52:43 – Q: How does AI impact the environment?

55:17 – Thank you and closing

In this webinar, as part of our Principles in Focus series, you will hear from Catholic fiduciaries and industry experts sharing practical advice on forming, structuring and strengthening Catholic foundations and trusts through best practice principles.

00:00 – Webinar opens, Zela Astarjian, CIS Managing Director, Welcome and Introductions

5:30 – Opening Prayer, Elizabeth Tomlin

6:16 –Why do Catholic Institutions Need Foundations?

10:00 – Three Models and Key Characteristics

15:01 – How Foundations Fund Missions

17:30 – Keys to Success: Catholic Boards and Leaders

26:24 – Best Practices for Charters and Bylaws

33:50 – Considerations for Conflicts of Interest

39:51 – Role of Self-Evaluation

42:00 – Q: What are the considerations to keep in mind while forming a Catholic Foundation?; Raising and allocating funds appropriately

47:52 – Q: How to include starting and endowment in your fundraising?

50:45 – Q: How do Catholic foundations compete with secular, local, and community foundations, as well as low-cost options?

53:10 – Q: How to address resistance to incorporating Catholic Social Teaching principles into portfolios?

54:55 – Q: What are the pitfalls for Catholic foundations to consider?

56:13 – Thank you and closing

This webinar, the second in our Macro Economic Outlook series, delves into the current state of the financial markets, the effects of inflation and other dynamic factors, and the risks and opportunities ahead for institutional investors. Sharing their views are industry leaders: Scott Malpass, CIS Founding Chair and Former CIO at the University of Notre Dame; Mario Giannini, CEO of Hamilton Lane; and Joseph Davis, Global Chief Economist and Global Head of the Investment Strategy Group at Vanguard.

00:00 – Webinar opens, Tom Lanctot, CIS CEO, welcome and introductions
03:07 – Serenity Prayer
03:35 – Scott Malpass, CIS co-founder, moderator, opening remarks
06:25 – Growth, Inflation, and Interest Rates: How do the Big 3 evolve over the year
19:40 – Private Market Perspective: valuations and opportunities in equity, credit and secondaries
23:35 – Portfolio construction and the private markets
27:15 – Negative Real Rates and outlook
29:45 – Energy, Prices, and Directionality
35:10 – Congress and The Debt Ceiling debate
40:30 – Talent & Tenure: portfolio management during Bear markets
42:30 – What keeps you up at night?
46:40 – New technologies: Areas of interest…
52:15 – The Yield curve and contrarian risks
53:00 – Catholic Social Teaching and ESG investing; factors and frameworks
56:20 – Thank you and closing


This presentation is furnished or informational purposes only and is intended solely for the person to whom it is delivered by or on behalf of Catholic Investment Services (“CIS”). This presentation is confidential and may not be reproduced in its entirety or in part, or redistributed to any party in any form, without the prior written consent of CIS. This presentation does not constitute an offer to sell or the solicitation of an offer to purchase any securities offered by any funds or accounts managed by CIS. Certain statements contained herein that indicate future possibilities constitute forward-looking statements and should not be construed as predictions of performance. Actual results may differ materially. In calculating projections and case targets, CIS utilizes certain specific inputs that, in some cases, are estimated, and certain assumptions that ultimately may not hold true with respect to any investment.  These estimates and assumptions may deviate materially from modelled expectations. No assurances can be made that the investment philosophy, investment objectives, projections or case targets will be achieved.   The information and assumptions included in this presentation are made in good faith and based upon information reasonably available to CIS as of the date noted herein and will not be updated.  The information contained herein does not purport to present a complete picture of the activities, results, actions and/or plans of CIS or any fund or account managed by CIS. Clients or prospective investors should consult advisory agreements, private placement memorandums and/or other documents describing any securities and explaining the services and risks associated with an investment in such securities prior to investing. Investing involves the risk of loss and investors should be prepared to bear potential losses. Past performance is not necessarily indicative of future results.

In November 2022, The Vatican gave Catholic fiduciaries a valuable new resource for aligning their institutions’ investments with their Catholic faith. “Mensuram Bonam” provides guidelines for those beginning their alignment process and those seeking to refine their approaches. This webinar, part of our Principles in Focus Series, explores Mensuram Bonam’s role and scope, and dispels underperformance myths about Catholic-aligned portfolios through a dialogue between true pioneers in this area: Paul Schott Stevens, Trustee of Catholic Investment Services; Scott Malpass, CIS Co-Founder and Board Chair; and Jean-Baptiste de Franssu, President of the Board of the Vatican Bank.

00:00 – Webinar opens, Tom Lanctot, CIS CEO, welcome and introductions
03:45 – Prayer of Thanksgiving
04:23 – Paul Schott Stevens, moderator, opening comments
04:42 – What is “Mensuram Bonam?” Catholic Social Teaching, and the trajectory of Faith-Based Investment Measures
11:10 – “No Investment Can Ever Be Considered Morally Neutral,” exploring the investment process
15:05 – Prior to the Bishop’s guidelines being released; How did you implement Catholic Social Teaching at the University of Notre Dame?
18:00 – “Mensuram Bonam” ~ Development of a New Kind of Competence in the Investment World
20:50 – ROI (Squared) = Return on Investment + Integral Development
23:55 – Practical Guidance on implementation and developing your IPS
32:10 – Beyond Exclusion: what are other tools; Impact Investing, Dialog and Engagement, Enhancing Issuer Relationships
36:35 – The Economic Model for Private Markets Investing
40:05 – Catholic Social Teaching (CST) ≠ Environmental, Social & Governance (ESG)
45:00 – Do Catholic-Aligned investment portfolios underperform?
48:00 – Insights from the Vatican Bank
51:00 – Q: Screening: Exclusion vs. Inclusion
52:20 – Q: CST in alternative investment; hedge funds and private market portfolios
54:10 – Q: How “Mensuram Bonamcompliments existing guidelines
56:30 – Q: Catholic Alignment & China
59:50 – A Call to Action: Next steps for “Mensuram Bonam”
1:02:25 – Thank you and closing



In this webinar, part of the Partners in Mission Fall Webinar Series, Zela and Michael discuss securing the future of your Catholic Institution by utilizing governence best practices, and offer a few keys for envisioning, creating and sustaining a successful investment strategy.

Topics include:
-Forming a diverse and dynamic investment committee
-Establishing sound committee practices and procedures
-Creating an effective investment policy statement, and
-Forging strong partnerships with investment advisors and asset managers


This content is for educational purposes only. Panelist opinions expressed are their own and thus do not necessarily reflect CIS’s opinion, investment advice, or strategies.  This is not a solicitation to purchase securities, nor is it meant to be investment advice.  CIS has not verified the content for accuracy, nor will it update it in the future.

Today’s session is part of our Managers in Focus webinar series, which explores the role that impact-focused investment solutions play in the strategies of Catholic institutions. It was enlightening to hear the views of true pioneers in this arena: Tim Connors, Founder of Pivot North; Michael Kim, Founder of Cendana Capital; and Miguel Luina, Managing Director at Hamilton Lane.

00:00 – Webinar opens, Tom Lanctot, CIS CEO, welcome and introductions
02:50 – Opening prayer 03:30 – Tim Connors, moderator, opening comments
03:40 – What is Venture Capital? Why is it an opportunity for Catholic Institutions.
06:40 – Smarts, Goodness & Grit: how to identify amazing founders
11:10 – Why have so few Catholic Institutions allocated to Venture, private market opportunities and challenges
15:10 – Ways to approach Venture Investment strategies
19:25 – Mission Alignment, Impact and how Catholic Institutions can move the needle
28:20 – Technology, Disruption, and Ventures effect on consumer banking
33:40 – Church-related Venture technologies
35:55 – Artificial Intelligence, Machine Learning, considerations and concerns
43:10 – Q: How to align Venture Capital with Catholic Social Teaching
47:40 – Q: Best Funding Markets, Correlations, and timing
53:40 – Q: Governance structures in Venture Capital
57:00 – Thank you and closing

This webinar, the first of our State of the Markets Series, delves into the current state of the financial markets, the effects of inflation and other dynamic factors, and the risks and opportunities ahead for institutional investors. Sharing their views are industry leaders: Jack Brennan, CIS Founding Chair and Former CEO of Vanguard; Jay Willoughby, CIO of TIFF Investment Management and the CIS Catholic Endowment Fund; and Ted Disabato, Managing Principal/Consultant at Meketa Investment Group.

00:00 – Webinar opens, Tom Lanctot, CIS CEO, welcome and introductions
03:00 – Serenity, opening prayer
03:30 – Jack Brennan, moderator, opening comments
06:30 – What are some current investment challenges for Catholic Institutions?
09:45 – What’s happened in the markets recently?
15:25 – Does diversification still work?
22:00 – Inflation, which way will it break?
27:30 – Why is the U.S. Dollar strengthening and what does it mean?
33:45 – What is the Role of Fixed Income in institutional portfolios.
36:30 – How should committees approach a spending policy.
39:30 – How are the biggest endowment portfolios performing this year vs. last year?
43:40 – A Framework for institutional equity allocations and private market portfolios.
53:45 – Will fixed income investment earn a positive real return over the next 3 years?
55:12 – Thank you and closing