We offer two types of fund: managed funds and endowment funds.  Under the written agreement for a managed fund, the type chosen by most churches, the congregation remains the owner of the assets.

If ELFEC’s investments experience a year with negative returns, no income will be paid out and we will adjust the opening value of each fund accordingly for the beginning of the next fiscal year.  As long as the money stays invested, this is a “paper loss”.  Our exper

ELFEC has contracted out management of our investments to Fiera Capital.  They make their decisions within the parameters set out by our Investment Policy Statement.  The ELFEC board of directors, investment committee and staff monitor investment performance regularly

With a managed fund, you can get all or part of your principal back at any time, with a reasonable period of notice.  In the first five years of the fund’s existence we charge an administrative fee for return of principal.  This is a flat amount that declines each yea