Second Quarter Investment Report

As we complete the first half of 2025, we are pleased to report a strong 2nd Quarter. Despite significant geopolitical shocks, trade policy volatility, and questions about long-term fiscal sustainability, markets proved remarkably resilient. Both equity and fixed income markets showed positive momentum in June. Markets continue to defy expectations with U.S. equities reaching new highs and bonds rebounding on easing interest rates. 

The end of Q2 2025 capped off a period that may be remembered as one of the most extraordinary disconnects between global headlines and actual portfolio outcomes in recent market history. For mission-focused investors, like you, this quarter was a reminder of how long-term stewardship and disciplined diversification can weather even turbulent conditions.

Market Highlights

U.S. Equity Performance:

• The S&P 500 Index posted a strong 5.09% return for the month of June, continuing its upward trend from earlier in the year. This mirrors the broader patterns we’ve observed over the past two years:

o U.S. equities outperformed international stocks (EAFE Index).

o Large-cap stocks outperformed small-cap stocks.

o Growth-oriented stocks led value stocks.

Fixed Income Market:

• Interest rates fell by approximately 0.19% during the month, giving a boost to fixed income returns. The bond market benefitted from this modest rate drop, contributing positively to diversified portfolios.

Fund Performance

• The Balanced Fund returned +3.70% in June, slightly outperforming its benchmark of +3.31%.

• The Stock Fund showed a monthly gain of 5.34%.

• The Bond Fund ticked up 1.25%.

• Year-to-date (through June 30, 2025), all core investment funds are showing healthy gains:



o Stock Fund: +8.71%

o Bond Fund: +3.87%

o Balanced Fund: +6.77%

These results reflect strong equity markets, aided by resilient economic conditions and solid corporate earnings, along with supportive bond market conditions.

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Manna for Tomorrow: Investing with Faith and Foresight

Rev. Dr. David S. Bell, President & Exectuive Director

An introduction to an Investment Policy Statement (IPS)-

Faithful stewardship of church resources is a vital part of our mission as The United Methodist Church. As we manage the gifts entrusted to us by God and the congregation, church leaders are responsible for ensuring that those resources are used wisely – both in meeting current ministry needs and preparing for the future. Transparency and shared understanding are key to building a strong financial foundation for all the work God has called us to do.

“Moreover, it is required of stewards that they be found trustworthy.” – 1 Corinthians 4:2

This scripture reminds us that our work in overseeing church finances is not merely administrative. It is a faith-driven responsibility rooted in trust and accountability.

One important tool in managing a church’s financial health is the Investment Policy Statement (IPS). An IPS is a common governance document for most nonprofits. For United Methodist Churches invested with the United Methodist Foundation of Michigan, the IPS is charted by the Foundation and contained in our offering circular. Reliance on this IPS ensures that all elements of the Book of Discipline and Social Principles are being followed. It serves as fiduciary protection for local church leaders, especially the trustees and finance leaders, who are charged with this oversight. The IPS provides the primary protocol for how church reserve funds and long-term investments are managed. Whether you are a church leader, a generous giver, or an interested constituent, understanding the IPS is a key step in supporting the financial stability of your church’s ministries.

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Generosity Summit 2025 Coming this September

Generosity Summit 2025, sponsored by the United Methodist Foundation of West Ohio, will be held September 15-16 in Toledo, OH. The event is sponsored by Wespath Institutional Investments and Horizons Stewardship.

The goal of the Summit is to provide excellent teaching on topics related to UMFWO’s educational programs and resources including stewardship, legacy giving, investments, financial literacy, and other related topics relevant to church leaders.

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