Fund Objective

The Investment Objective of the Ecclesiastical Amity Fund is to provide long term capital appreciation and a reasonable level of income. It seeks to invest in companies which make a positive contribution to the quality of individual and community life and to the environment.

View on Past Performance

September saw the financial crisis reach new heights as markets reacted to a stream of extraordinary events, which saw the beginning of a restructuring of the global banking system. Over the month, market volatility rose to record levels, with most major markets recording double digit declines. The performance of the Fund benefited from its underweight positions in the banking sector and overweight positions in more defensive areas such as pharmaceutical and food retailers.

Future Expectations

As economic conditions deteriorate and markets digest the implications of the US and UK financial rescue plans, we remain cautious on the outlook for equity markets and therefore comfortable holding higher than average levels of cash.

Fund Details