June 1, 2018
Buncombe Street United Methodist Hires New Staff GREENVILLE SC– Buncombe Street United Methodist Church (BSUMC), recently hired several new staff…View All News
Introducing Wespath: Our New Investment Manager
During the first quarter of 2016, the Board of Directors of the Buncombe Street UMC Endowment Fund, which also serves as the Investment Committee of the Sisk Foundation, undertook a review of all current investments. The Board was seeking a more consolidated approach to our investments with an emphasis on:
The Board requested six proposals, three from the current investment managers and three from firms offering a consultant-model approach. They reviewed approximately 900 pages of material and conducted six in-depth, in-person interviews. With more than $9 Million in assets between the Endowment Fund and the Sisk Foundation, the Board wanted to ensure that our investments were both sound and strategic. Ultimately, the Board voted unanimously to move all investments to Wespath Investment Management.
You may already know of Wespath as the investment management division of the General Board of Pension and Health Benefits of The United Methodist Church. Did you know that in addition to administering pension plans, Wespath also provides investment programs for non-profit institutions? All the while honoring United Methodist Social Principles!
The name Wespath was chosen to honor John Wesley, the founder of Methodism and a leader in establishing social principles, which outline the tenets of sustainable investing. The name reflects both this Wesleyan heritage, and the idea of putting clients on the right path to financial growth with a commitment to values-driven investing.
The tipping point for the Board’s decision became the active strategies of Wespath not only to filter and exclude certain investments, but also to engage companies on social and governance issues and to give back to communities through its lending programs.
In 2006, the United Nations invited Wespath to co-author its Principles for Responsible Investment. Upon completion, they were the only faith-based institution to be invited as a founding signatory in recognition of their global leadership in sustainable investment practices focused on environmental, social and governance (ESG) factors.
You already know that with every gift to the Endowment, your money is making a positive impact on Buncombe Street UMC and the Greenville community. Now, you can be confident that the same gift also benefits communities across the globe, even as it grows to support the ministries and missions of this congregation.