Winter 2025-26 Newsletter
An Update from the Executive Director, Winter 2026
Last year saw Friends Fiduciary cross the $800 million mark in assets under management, with strong market returns augmenting net inflows that included more than $30 million in new assets. Friends Fiduciary also made an important new hire to help grow and modernize...
Investment Review Winter 2026
In 2025 the Quaker Growth and Income Fund returned 12.3% net of fees, nearly at its 3-year average and reflective of a strong year for markets overall. Behind the headline numbers, however, was a complex picture that calls for a closer look. The past year was...
2025 Proxy Season Overview
Shareholder Engagement Numbers Shareholder advocacy continues to be a core focus of our work, despite significant challenges stemming from changes in SEC policy that threaten to weaken shareholder rights. For instance, a November SEC announcement gave companies the...
Philanthropic Services Year in Review – Pick Six
The football season is winding to a close, but we have our own "Pick Six" of topics. Click below to learn more about what happened in Philanthropic Services this past year.Individual Giving Summary Supporting our fellow Quaker Organizations ACGA Rates Remain High...
Summer 2025 Newsletter
An Update from the Executive Director
The first half of 2025 has presented a contrast from our perspective as Quaker values investors. On the one hand, as CIO Rich Kent covers in detail, equities have largely rebounded after a steep, tariff-related dive in spring, leaving multiple segments of the market up significantly on the year. On the other, there is a sense that Quaker values are so under threat—values of equity, sustainability, integrity and peace—that swings in government and corporate policy are increasing the likelihood of long-term economic risks.
Investment Review Summer 2025
To paraphrase country rock group Alabama’s 1985 hit, you can’t keep a good market down. The fear that gripped the markets after President Trump’s April 8th “Liberation Day” tariffs has given way to a more measured approach to trade rhetoric. This shift allowed the S&P 500 Index to appreciate +14% during the second quarter, bringing its year-to-date return to +6.2%.
2024-2025 Proxy Season Overview
During the 2024-25 proxy season we engaged over 50 companies on issues ranging from human rights in company policy and practices, equitable access to medicines, diversity within company workforces, climate financing in the banking sector, best practice in governance through separation of chair and CEO positions, climate lobbying alignment and more.
Planned Giving: Real Property, Trust Administration & Gifts
Many Friends are surprised to learn that FFC still holds deeds to several monthly meetings and other Quaker organizations. It is helpful to examine the evolution of FFC and historical Quaker attitude regarding incorporation to better understand this antiquated practice.
Winter 2024-25 Newsletter
The Impact of Active Ownership: Engage or Divest?
Friends Fiduciary's Winter Newsletter featured the below article from Executive Director Ethan Birchard, highlighting the impact of active ownership. Engage or Divest? At Friends Fiduciary, the work of corporate engagement, or what we call active ownership—being in...
Investment Review Winter 2024
With 2024 in the rear-view mirror, investors appear guardedly optimistic following a year of generally solid economic and stock market performance. Dominated by mega-caps and technology stocks, the S&P 500 Index posted a +25.1% return in 2024, marking the first...
2023-2024 Proxy Season Overview
With the 2024-2025 proxy season underway, we are in the midst of decision making by companies with whom we’ve filed shareholder resolutions. Some engagements have already resulted in agreements for the withdrawal of our resolutions, while other resolutions are on...
Take Advantage of Soaring CGA Rates!
Friends Fiduciary’s Philanthropic Services division supports the fundraising efforts of Quaker organizations, which in turn strengthen and grow the Religious Society of Friends. In 2024, donors established over $2.1 million in charitable gift annuities to benefit...
2025 Quarterly Updates
4th Quarter, 2025 Update
Dear Friends,Thank you for investing with Friends Fiduciary. This is your fourth quarter update with important news and information about Friends Fiduciary and your account with us. We wish you and your loved ones a healthy and enjoyable 2026! 2025 Fourth Quarter...
3rd Quarter, 2025 Update
Dear Friends,Thank you for investing with Friends Fiduciary. This is your third quarter update with important news and information about Friends Fiduciary and your account with us. We wish you and your loved ones a healthy and enjoyable Fall season! Friends Fiduciary...
2nd Quarter, 2025 Update
Dear Friends,Thank you for investing with Friends Fiduciary. This is your second quarter update with important news and information about Friends Fiduciary and your account with us. We wish you and your loved ones a healthy and enjoyable Summer! 2025 Second Quarter...
1st Quarter, 2025 Update
Dear Friends,This is your First Quarter 2025 update with important news and information about Friends Fiduciary and your account with us. As we noted in our recent letter, markets have undergone a rapid shift in sentiment, leading to significant volatility. While the...
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