Sustainable Grace

Economic strain across many factors has continued to create challenges for Catholic institutions who seek to grow their endowments so that they may sustain their vital ministries. Please join us for a wide-ranging discussion focusing on the macro and micro environment and outlook for the new year. This webinar will feature Jack Brennan, CIS Founding Chair & Chairman Emeritus, The Vanguard Group, and Joe Davis, Vanguard's global chief economist and global head of the Investment Strategy Group, as they assess the current state of the capital markets, highlight investment challenges and risks, and share best practice ideas on institutional investment themes. Joe will also touch on his new book titled "Megatrends", which demonstrates how AI, debt, demographics and deglobalization may impact the economy and markets in the coming decade.

Highlights

• Recent economic headlines concerning short-term and long-term economic forecasts
• Market reactions to rising interest rates on both the short and long end of the curve
• The importance of thinking in real return terms when considering investment portfolios for long-term returns
• Views on inflation due to the concerns it raises both organizationally and in investment portfolios
• How geopolitics factor into forecasts and advice to clients
• The value of risk management and considering a range of outcomes
• Slow moving trends that affect the economy and financial markets
• The major driving factors in future growth
• The role of diversification in investment portfolios and long-term planning

Episode Resources

• Connect with Catholic Investment Services
• https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/
• https://catholicinvest.org/cis-institute/

In this podcast, we highlight ten common pitfalls of building a Catholic foundation and how to address them. This is a continuation of our previous podcast, on Strengthening and Structuring Catholic Foundations and Trusts. In this session, you will hear from Catholic fiduciaries and industry experts sharing practical advice on the ten most common mistakes to avoid when building a Catholic foundation, and offering best practice solutions.

Highlights

• Governance principles related to establishing and growing a Catholic foundation
• The importance of having adequate staffing in a foundation
• Why there should be clear communication between the foundation and the diocese
• Making grants to mission dioceses and the importance of not amassing large endowments at the expense of a mission
• The difference between the roles of the individuals responsible for building and managing a foundation
• How the commingling of assets and confusion of assets between foundations and the archdiocese can lead to gifts being allocated improperly or applied incorrectly
• The importance of understanding your investments
• Treating endowments as rainy day funds
• The importance of the small details in running the foundation

Episode Resources

• Connect with Catholic Investment Services
• https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/
• https://catholicinvest.org/cis-institute/

In this podcast, Zela Astarjian, Managing Director at CIS, joins Sister Barbara Thomas of the United States Province of the Apostles of the Sacred Heart of Jesus, Katie Thiemann of Cor Jesu Academy, and Sister Irene O'Neill of Sisters Rising Worldwide to discuss incorporating a culture of philanthropy in your religious community.

More and more, Catholic institutions are making advancement a priority. The reason: Without a strong advancement program, some organizations may struggle or fail in the decades ahead due to shifting demographics and donation practices among Catholics nationally. This will be an educational workshop and will cover essentials such as enhancing financial management practices, creating an advancement function, making fundraising more strategic and building a strong endowment. The discussion will examine how religious orders can secure their futures by implementing best practices for board and committee governance.

Highlights

• The aim of the session is to demystify fundraising with real-life examples on how to improve fundraising efforts
• Katie's personal experience where a major donor initially said no, but later came back with a heavy donation
• Sister Barbara's experience of shifting from school administration to fundraising, and how the needs of a province drive the fundraising activities
• The need for donations to support the home for the sisters, a responsibility handled by the fundraisers
• The importance of asking for a specific number when fundraising because it is statistically more effective
• Establishing a board instead of an advisory committee due to the major responsibility and commitment board members accept
• The initial challenges and eventual success of a dinner event
• Sister Barbara organized featuring Cardinal Dolan as the speaker
• The centerpieces at the tables which contained pictures of young individuals associated with their ministries and a quote about their life experiences
• The story of one of the sisters who actively engaged with attendees, just by getting them to sign in a visitors' book

Episode Resources

• Connect with Catholic Investment Services
• https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/
• https://catholicinvest.org/cis-institute/

In this podcast, you will hear about AI and the future ahead. AI has recently taken the world by storm. Its groundbreaking capabilities are being used for customer service, generating more reliable credit scores, enabling trading and money management, regulatory compliance, security and fraud prevention, and more. This dynamic discussion features Jack Brennan (CIS Founding Chair & Chairman Emeritus, The Vanguard Group), John Behrens (Director, Office of Digital Strategy, College of Arts & Letters at University of Notre Dame), Brian Barbetta (Wellington Management Global Industry Analyst), and Shelley Zhuang (Founder and Managing Partner at 11.2 Capital).

Highlights

• Overview of Catholic Investment Services and its mission
• Who are the panelists: Jack Brennan, Brian Barbetta, John Behrens, and Shelley Zhuang
• What AI is and its various aspects
• Specifics of generative AI and its use in text, images, video, and sound
• The imperfection of the systems: Current limitations of AI systems, common mistakes, and improvements anticipated in the future
• The reliability of artificial intelligence
• Practical uses of AI
• Emerging businesses and opportunities that are being developed surrounding generative AI
• The reliance of AI behavior on the data type and access, with changing policies concerning data access from platforms like Twitter, GitHub, Stack Overflow, and Reddit
• The possibilities for malicious use and misuse of AI
• Legal issues related to the ownership of AI-generated inputs and outputs
• Raising the issue of AI's impact on the environment due to the power consumption of data centers and the energy requirements of AI operations
• Nascent stage of AI development and the opportunities that lie ahead

Episode Resources

• Connect with Catholic Investment Services
• https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/
• https://catholicinvest.org/cis-institute/

In this session, Scott Malpass, Founder & Board Chair, Catholic Investment Services, leads a panel discussion on the role of global equities in institutional portfolio construction. Equity practitioners discuss their investment philosophy, research process and idea generation for stock selection.

Highlights

• The scalability of stock markets and real estate markets compared to private markets
• How to find companies worthy of a large position in the portfolio
• Understanding sustainable competitive advantage, looking at sectors with secular tailwinds and confirming good capital allocation
• The growth versus value debate
• Using past research and understanding of a business to act quickly when market opportunities arise
• An analysis of short-term and long-term perspectives of global equity markets

Episode Resources

• Connect with Catholic Investment Services
• https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/

In this podcast, as part of our Principles in Focus series, you will hear from Catholic fiduciaries and industry experts sharing practical advice on forming, structuring, and strengthening Catholic foundations and trusts.

Highlights

• The purpose and mission of a foundation
• Importance of a mission-driven foundation to avoid mission drift
• Pros and cons of different foundation models
• Importance of an audit committee in a foundation
• How to have a more robust committee structure for larger boards
• Importance of clear exit plans for board members in bylaws
• Being reactive and focused on a specialization within the foundation
• Two pitfalls to avoid with foundations

Episode Resources

• Connect with Catholic Investment Services
• https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/

In this podcast, Jack Brennan, CIS Co-Founder & Founding Board Chair, leads a discussion on managing institutional investment portfolios for the long-term. The panelists offer insight on working with varying constituent groups for Catholic institutions, guidance on decision making for committees during periods of stress, and other best practice concepts for boards to consider.

Highlights

• The challenge of managing long-term portfolios in a short-term world
• Staying focused on long-term goals in the midst of short-term noise
• Maintaining focus on end beneficiaries and having a clear investment strategy
• Challenges committees face when focusing on long-term goals
• The importance of stress testing portfolios and setting realistic expectations
• Using absolute returns as a benchmark for portfolios rather than relative comparisons
• The difficult decision-making process of terminating a manager relationship
• The importance of global diversification and selecting stocks from emerging markets with compelling valuations
• Increased dispersion as a theme for the next 10 years, leading to a shift towards active management and hedge funds
• The consensus on the direction of long-term strategies between panel members
• How diversification still works, despite recent underperformance Episode Resources
• Connect with Catholic Investment Services
• https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/
• Connect with Jack Brennan
• https://catholicinvest.org/about-us/jack-brennan/

In this podcast, Tim Connors, Founder of PivotNorth Capital, leads a panel discussion on how to define impact investing with focus on additionality and intentionality, while offering guidance on identifying companies and management teams with strong mission & alignment, the use of impact measurement tools, and concessionary vs. market rate returns.

Highlights

• Defining impact investing, highlighting intentionality, additionality, and alignment as key factors when it comes to impact investments
• Does caring for stakeholders instead of just shareholders compromise returns? Panelists agree that it is possible to achieve both impact and returns without compromising one for the other
• Balancing risk-adjusted return with impact and how this can vary depending on the social or environmental goals
• Allocating foundation capital between nonprofit granting and tech-enabled impact investments
• Investing in mission-related investments (MRI) and program-related investments (PRI), and the importance of finding the right balance between them
• Getting started with impact investing, including starting small, exploring liquidity options, and collaborating with others in the community
• The importance of defining the focus and values of an organization and finding the right resources and partners for the journey into impact investing
• The impact investing journey causes organizations to reflect on their values and the importance of aligning investments with philanthropy
• Emphasizing the importance of finding and supporting good people in the industry
• The excitement in helping private market companies grow, succeed, create jobs, and contribute to economic development and opportunities Episode Resources
• Connect with Catholic Investment Services https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/
• Connect with Tim Connors
• https://pivotnorth.com/
• https://www.forbes.com/profile/tim-connors/?sh=35d4b4c35252
• https://www.bloomberg.com/profile/person/5854167
• https://twitter.com/timc

In this podcast, Dave Taiclet, General Partner & Managing Director of Lewis & Clark Partners, leads a discussion on differentiating private market investing strategies for Catholic Institutions and provides practical ideas on portfolio construction and asset allocation, and dispels several common misconceptions regarding private market portfolios.

Highlights

• Having diversity across the private markets is vital for ensuring that investors have opportunities to gain exposure to different types of investments, each with its own risk-return profiles, investment strategies, and growth potentials
• As markets and economic conditions shift over time, it is essential for investors to maintain a diversified private markets portfolio to weather different situations and capitalize on emerging trends and opportunities
• The evolution of private markets underscores the importance of being adaptable and staying informed about the latest trends and developments in technology, climate and sustainability, and other industries that may present new opportunities for investment.
• Why it is crucial for investors to be aware of the changing dynamics of private markets, such as the increasing role of non-bank lenders and the emergence of new platforms for investing, such as fund of funds
• The importance of vintage diversification in venture capital and private markets
• Exposure over different vintage years allows investors to capture a wider set of opportunities
• Consistent exposure and not timing the markets is essential for success in private market
• Strategies for advising companies on managing cash and banking
• The importance of diversification and governance in private markets
• Ways of incorporating values and faith into private markets businesses Episode Resources
• Connect with Catholic Investment Services
• https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/
• Connect with Dave Taiclet
• https://lewisandclarkagrifood.com/
• https://www.linkedin.com/in/davetaiclet

This episode is about the webinar to discuss the economy which saw a bear market and inflation on the rise. Joe expects a mild recession for the next 6 months and that the Federal Reserve will not need to take action. Mario discusses the trend of looking at the world as public and private markets, noting the importance of understanding liquidity risk when investing in private markets.

Highlights

• Who are the guests for today?
• The big 3 growth: Growth, Inflation, and Interest Rates
• Private Market Perspective: Valuations and opportunities in equity, credit, and secondaries
• Portfolio construction and the private markets
• Going public versus going private
• Reasons why people want liquidity
• Negative real rates and outlook
• The effect of the situation in Ukraine
• Energy, prices, and directionality
• The congress and the debt ceiling debate
• Talent and tenure: Portfolio management during bear markets
• New technologies as areas of interest
• The yield curve and contrarian risks
• What's the political aspect of ESG?
• Catholic social teaching and ESG investing Episode Resources
• Connect with Catholic Investment Services
• https://catholicinvest.org/about-us/
• https://catholicinvest.org/about-us/#board-of-trustees
• https://catholicinvest.org/contact-us/