wfn.org | Methodist Pensions not Hurt by Market Drop

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"UNITED METHODIST DAILY NEWS 97" by SUSAN PEEK on April 15, 1997 at 14:24
Eastern, about DAILY NEWS RELEASES FROM UNITED METHODIST NEWS SERVICE (430
notes).

Note 427 by UMNS on Nov. 3, 1997 at 15:54 Eastern (1434 characters).

CONTACT:	Ralph E. Baker						 615(10-71B){427}
		Nashville, Tenn.  (615) 742-5470			Nov. 3, 1997

Pension and health benefits board’s investments
not seriously impacted by stock market swings

by United Methodist News Service

It seems natural to wonder what impact the record setting downturn in the
stock market Oct. 27 may have on the United Methodist Church’s $9 billion
benefits program, heavily invested in the market.
According to David Zellner, director of the board’s Investment Department, the
agency’s invested funds "performed in line with the market," dropping when the
market dropped and climbing when the market climbed.
Although the markets are quite volatile, he said, "the board is aware of the
impact and is not alarmed. For the year, board investments still show a very
healthy positive return." 
A memo to board customer service personnel and benefit educators dated Oct. 31
noted, "The Diversified Fund is just that -– diversified.  The fund is
invested in a wide variety of different types of assets and invested in
different investment styles."
The memo further noted that special funds II and IV, both stock funds, looked
at in terms of "year to date," have performed very positively.
"The market will provide the Board [of Pension and Health Benefits] with a
return consistent with its historical norms," Zellner told United Methodist
News Service.
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