Overview
The offer
 Three big questions
 Next steps
 Discussion

The ELFEC offer
We create a managed fund for your
congregation
 You continue to own the assets
 We manage your money
 We pay you income annually
 You have freedom from investment
decisions: “What will we do when the GIC
matures?”

Three big questions
What kind of returns will you get?
 How does it work?
 Is ELFEC a trustworthy partner?

Our lawyer’s fine print
Investment returns are affected by factors
which are out of ELFEC’s control
 ELFEC offers no promises or guarantees of
future investment performance
 Return numbers are offered as a historical
overview only
 Returns are displayed after fees deducted:
1% ELFEC; 0.30% investment manager

Historical returns
Year
2004
Net return
5.8%
2005
2006
2007
7.2%
6.9%
2.5%
2008
2009
2010
2011
-6.8%
10.7%
5.8%
1.3%
2012
2013
15-year average
5.8%
8.3%
5.1%
How a Managed Fund works
Your congregation’s name on fund
 You remain owner of assets
 Possibility of capital transfers back
 Add to principal at any time
 Annual income and reporting
 Minimum size $50,000
 Administration fee 1% annually

A trustworthy partner
ELFEC is a federally incorporated (2006)
charitable foundation registered with the
Canada Revenue Agency
 “To responsibly preserve and manage the
financial resources entrusted to the
Church by past and present generations to
enable investment that provides for the
future mission of the Church.”

ELFEC Portfolio
$1,044,918
Holdings: 2013 Q3
Bonds: 25
$5,766,637
$7,672,099
Equities: 37
Total = $ 14,483,654
ELFEC’s record
Disbursements 2008-2012
Type
Grants
Beneficiary
Eastern Synod
Amount
$3,050,159
Transfers
Income
Total
Congregations, camps, etc.
Partners*
636,652
100,395
$3,787,207
* Beginning in 2009
Investment philosophy

Goals:
– Capital preservation
– Reasonably predictable stream of income
– Capital growth to offset inflation

Constraint:
– Responsible Investment
Current directors
Allan Greve (retired hospital CEO)
 Rev. Dr. Mark Harris (WLS prof)
 Susan Heard (retired bank VP)
 Laurie Kitchen (Chartered Accountant)
 Bill Kuehnbaum (retired prof & union exec)
 Sam Marcuson (retired mining exec)
 Wendell Schlumberger (former inv. analyst)
 Janina Vanderpost (retired pension regulator)

Next steps

Congregation
– Decide on amount
– Review agreements
and provide
comments
– Sign agreement
– Write cheque

ELFEC
– Prepare
agreements for
review
– Respond to
questions
– Make revisions as
necessary
– Sign agreement
– Invest money
Your congregation and ELFEC
in partnership?
Your
congregation’s
picture here
ELFEC would be delighted to welcome
your congregation
as an investment partner
Questions?
Please visit us at www.elfec.ca
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