Unified Investment Fund

The investment program is currently managed by Alesco Advisors, a Pittsford-based firm that has over $1.4 billion under management. The Diocese of Central New York selected this firm in 2011 to manage Diocesan investments and assets entrusted to the Diocese by parishes and other Central New York Episcopal institutions. The record keeper is NRS, a nationally known firm that provides administration of the accounts, performs monthly valuation and provides ready access to account information.

Alesco Advisors was founded in 2000, is an SEC-registered investment advisor, and is independent and 100% employee-owned, with approximately 260 institutional and high net worth clients. Their investment philosophy is to focus on asset allocation, diversifying and rebalancing to reduce risk through efficient and optimized index-based portfolios that offer lower costs and turnover compared to other investment managers.

Performance is overseen by the Diocesan Board and the Investment Committee, with reports available electronically on a quarterly basis for participating parishes. In addition, there is an investment policy statement that provides guidance to Alesco Advisors with respect to performance expectations, including the application of the policy on socially responsible investing.

There are a number of reasons to consider the program, including:

• The larger the pool of total assets, the greater the opportunity to reduce fees for all participants;
• Outsource investing concerns;
• Ease the fiduciary burden associated with managing the succession of a parish investment committee.

Currently non-participating parishes who are interested finding out more about the program are encouraged to contact a member of the Investment Committee or the Diocesan Controller. As needed, we also would be glad to put interested parishes in contact with Alesco Advisors representatives to learn more about Alesco and the investment program.