The Multiple Asset Fund (MAF), through its investment in the four other Wespath funds, participates in the management styles of more than 40 different investment management firms. These managers provide the fund with broad diversification of holdings in a variety of U.S. and non-U.S. securities. These include stocks, traditional bonds, inflation-linked bonds, real estate investment trusts, securities, commodities, and interests in private equity and private real estate partnerships. In addition, through FIF, MAF holds participation interests in loans originated through Wespath’s Positive Social Purpose Lending Program.
For the second quarter 2016, the Multiple Asset Fund gained 1.95% and outperformed its benchmark by 0.05%. The Fixed Income Fund, International Equity Fund and Inflation Protection Fund contributed positively, while the U.S. Equity Fund detracted from benchmark-relative performance.