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United Church Funds

PRI reporting framework 2020

You are in Strategy and Governance » Investment policy

Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.3. Indicate if the investment policy covers any of the following

01.4. Describe your organisation’s investment principles and overall investment strategy, interpretation of fiduciary (or equivalent) duties,and how they consider ESG factors and real economy impact.

Vision: Investment that creates a just world for all
Mission: United Church Funds supports our clients’ missions and generates outstanding values-aligned investment performance.

United Church Funds supports the missions of faith-based organizations with competitive, socially responsible investment performance and endowment solutions that reflect their values. For more than 100 years, our performance has been measured by our clients’ success in managing their resources and improving the world.

The Investment Committee of United Church Funds establishes guidelines to ensure that the
investments in UCF’s funds meet the ethical, moral and social expectations of the church, and that
appropriate diversification within each Fund is maintained. Investment managers retained by
United Church Funds are expected to adhere to these guidelines unless otherwise specified in
the guidelines within the investment advisory agreement between United Church Funds
and the manager.

01.5. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

From United Church Funds' Investment Policy Statement:

United Church Funds endeavors to be a faithful representative of the principles of the United
Church of Christ in its responsible investing program, but will always maintain the proper
fiduciary controls over the assets entrusted to us.

United Church Funds' efforts toward fostering a just and sustainable economic system and
world include several effective strategies. Exclusionary screening is just one practice that
examines the Environmental, Social, and Governance (ESG) impacts of the corporations in
which we have invested. ESG considerations have always been a moral and performance
issue for UCF, and the wider investing industry now increasingly acknowledges the
importance of ESG factors. In addition to exclusionary screening, United Church Funds
utilizes shareholder advocacy, investor statements on public policy and regulations,
and intentional proxy voting on behalf of the United Church of Christ’s assets.
In an effort to drive positive outcomes, United Church Funds also seeks opportunities in impact investing.

Alternative Investments Exception: Due to the specialized investments and strategies utilized by
alternative investments, which are predominantly offered as commingled vehicles, the Investment
Committee recognizes that these investments are subject to the diversification and quality guidelines of the investment advisor managing a given fund. Therefore, UCF’s Alternatives Fund
and by extension the Alternatives Balanced Fund may not be in compliance with UCF’s
social screens.

Money Manager Structures: The assets of UCF’s funds may be invested as separately managed accounts or in commingled or institutional mutual funds, depending on investment, administ
rative and cost considerations. The Investment Committee recognizes that commingled
funds and mutualfunds are subject to the diversification and quality guidelines of the in vestment advisor managing the fund. When selecting such an investment vehicle, the Investment Committee
will attempt to select funds with portfolio policies and guidelines which are consistent with
the guidelines in this Statement of Investment Policy. If screened investments held in a
commingled or mutual fund do not exceed 2% of the assets under management by any
manager, the fund will be considered consistent with the guidelines in this Statement of
Investment Policy. However, there may be circumstances under which a commingled or
institutional mutual fund may not be entirely consistent with the guidelines in the
Statement of Investment Policy and yet represent the best or only alternative means of participating in a particular asset class. These circumstances may include an asset class in which
costs, diversification requirements, limited access to available managers and the unavailability of a separately managed account may necessitate the use of such a fund.

01.6. Additional information [Optional].


SG 01 CC. Climate risk (Private)

SG 02. Publicly available RI policy or guidance documents


02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

02.2. Indicate if any of your investment policy components are publicly available. Provide URL and an attachment of the document.



02.3. Additional information [Optional].

While there was only one space for proxy voting policy within this module, we have two separate documents regarding our proxy voting guidelines: Our social issues proxy voting guidelines (which include environmental considerations) and our corporate governance proxy voting guidelines, which can be found here.

SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

03.3. Additional information. [Optional]

SG 04. Identifying incidents occurring within portfolios (Private)