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Quarterly Investment Newsletter

January, 2026

Seasons, Stewardship, and Staying the Course

Rev. Dr. David S. Bell

Year-End Investment Reflections for Church Leaders and Ministry Partners

“For everything there is a season, and a time for every matter under heaven.” Those words from Ecclesiastes resonate deeply when reflecting on the investment landscape of 2025. Like many journeys of faith, the path markets traveled last year was not straight or predictable. Stretches were marked by uncertainty and disruption, followed by periods of renewed confidence. For long-term stewards of ministry resources, the year served as a reminder that faithful investing is less about reacting to every turn and more about remaining grounded in purpose.

A Year Shaped by Uncertainty—and Adjustment

The early months of 2025 tested investor confidence. Policy decisions, particularly around trade, introduced volatility and unsettled markets. Equity prices moved sharply, supply chains faced renewed pressure, and inflation concerns resurfaced. Investors responded cautiously. Fixed income markets reflected growing unease as longer-term interest rates rose and as credit conditions tightened.

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December and Year End Returns

UMF Collective Funds of Michigan

As we close the books on 2025, it is encouraging to reflect on a year of solid long-term results for the UMF Collective Funds of Michigan LLC. Very strong gains were achieved in the midst of shifting market leadership, changing interest rate expectations, and ongoing global uncertainty.

For the full year, investment returns, net of all fees, were:

·        UMF Stock Fund: +19.88%

·        UMF Bond Fund: +6.90%

·        UMF Balanced Fund: +14.69%

These results represent active and more recent customized index participation in a favorable equity environment, steady income generation from fixed income, and disciplined diversification within the overall strategy. This approach is designed to support churches and ministries seeking both growth and stability over time.

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As we step into 2026, financial markets are entering the year with both momentum and meaningful complexity. After several strong years for investors, valuations in parts of the market are elevated, leadership remains concentrated, and global uncertainty continues to shape sentiment. At the same time, innovation, policy flexibility, and long-term structural trends offer reasons for cautious optimism.

At the United Methodist Foundation of Michigan, our priority remains unchanged: stewarding assets with care while pursuing competitive, long-term, risk-adjusted returns aligned with our faith-driven values. This long-term commitment is paired with active oversight and customized indexes as market conditions evolve. Several themes will be especially important to watch in the year ahead.

We believe that investment decisions should reflect both financial responsibility and deep moral conviction. We intentionally seek companies whose practices align with holistic Christian values, like dignity, compassion, access, and justice. One of our stock holdings, Medtronic, is a global healthcare technology leader. They recently launched Spark. This initiative represents a bold and value-aligned approach to addressing one of the most pressing global challenges of our time: the growing healthcare workforce shortage.

A 10-Year Commitment to Opportunity

In March 2025, Medtronic announced Spark, a decade-long effort to prepare 1 million low-income students for careers in the growing health tech sector. This multi-pronged endeavor is designed to reduce barriers to opportunity. It also aims to build a more inclusive, better-trained workforce to meet urgent global needs.