Investments

Grow your Fund, make an impact

Select from a variety of options to invest your Fund balance for growth – from NCF’s own investment pools to separately managed accounts with your advisor.

3 ways you can invest with your NCF Fund

Whether you select from investment pools, impact investments – or have your financial advisor manage your investments – NCF has options that can fit into your giving strategy.

Investment pools
When opening a Fund, you can choose from a variety NCF's multi-asset investment pools that range from stable value with no risk of fluctuation in principal value to very high risk with substantial exposure to market fluctuations.
Learn More
Impact investing
With impact investing at NCF, you can pursue financial
 returns while making a spiritual impact, even before you
 recommend grants to charities. While the money is being
 put to work, the returns go back to your Fund so you can
 make more investments or grant even more to your favorite
 charities.
Learn More
Separately managed accounts (SMAs)
If you prefer a more customized approach to the management of the assets in your Fund, consider an SMA, which is best suited for givers with long-term charitable giving horizons, and the desire for their advisor to manage their Fund's investments.
Learn More
Investment pools
When opening a Fund, you can choose from a variety NCF's multi-asset investment pools that range from stable value with no risk of fluctuation in principal value to very high risk with substantial exposure to market fluctuations.
Learn More
Impact investing
With impact investing at NCF, you can pursue financial returns while making a spiritual impact, even before you recommend grants to charities. While the money is being put to work, the returns go back to your Fund so you can make more investments or grant even more to your favorite charities.
Learn More
Separately managed accounts (SMAs)
If you prefer a more customized approach to the management of the assets in your Fund, consider an SMA, which is best suited for givers with long-term charitable giving horizons, and the desire for their advisor to manage their Fund's investments.
Learn More

NCF's investment pools

NCF has multiple investment pools that range in risk, market fluctuation, and value. You can also change pools when you log in to your Fund (on the Fund settings page).

Short-term granting horizon
Long-term granting horizon

Money Market

Seeks preservation of capital by maintaining a stable $1 net asset value. Pays a stated rate of interest to pool participants. The stated rate adjusts on a monthly basis based on market conditions.

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Overview

Risk Profile: Low risk

Grant Making: For givers who plan to grant out their full fund balance on an ongoing basis

Stated rate earns .80% interest

Target Allocation

  • 100% Cash & Cash Equivalents

Investments

Investments may include money market cash, bank and money market accounts, money market funds, short-term fixed income, or securities.

Fixed Income

Seeks income with modest capital appreciation through an asset allocation to shorter duration investment grade fixed income investments.

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Overview

Risk Profile: Low risk

Grant Making: For givers who plan to grant out their fund balance within 1-2 years

Expense Ratio: 1.10

Target Allocation

  • 80% Fixed Income
  • 5% Flexible Capital
  • 5% Real Assets
  • 10% Cash

Current Pool Performance

YTD (%)
3 MO (%)
1 YR (%)
3 YR (%)
5 YR (%)
Gross returns
1.3
1.8
6.1
2.9
2.0
Returns net of investment fees
1.1
1.5
5.0
1.8
0.8
Benchmark
2.5
2.7
8.0
3.9
2.2
As of February 28, 2020

Investments

Fixed Income

  • Vanguard Total Bond Market Index Fund - VBTIX
  • Vanguard Short Term Bond Fund - VBITX
  • Vanguard Intermediate Term Treasury Fund - VFIUX
  • Payden Limited Maturity Fund - PYLMX
  • Legg Mason Brandywine Global Opportunities Bond Fund - GOBSX
  • Lord Abbett Short Duration Income Fund Class F3 – LOLDX
  • Palmer Square Income Plus Fund LLC
  • FIAM Tactical Bond Fund, LP

Flexible Capital

  • FPA Crescent Fund - FPACX
  • BlackRock Strategic Income Opportunities Fund - BSIIX

Real Assets

  • Vanguard Short Term Inflation Protected Secs Fund - VTSPX

Cash

  • Federated Government Obligations Fund - GOIXX

Moderate Income

Seeks capital appreciation with a 20% allocation to domestic and international equities, with broader diversification across other asset classes.

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Overview

Risk Profile: Modest risk

Grant Making: For givers who plan to grant their fund's balance within 1-2 years

Expense Ratio: 1.24

Target Allocation

  • 10% Domestic Equity
  • 10% International Equity
  • 50% Fixed Income
  • 10% Flexible Capital
  • 10% Real Assets
  • 10% Cash

Current Pool Performance

YTD (%)
3 MO (%)
1 YR (%)
3 YR (%)
5 YR (%)
Gross returns
-1.1
0.2
5.8
5.1
4.5
Returns net of investment fees
-1.3
0.0
4.6
3.8
3.1
Benchmark
-0.6
0.8
5.7
4.5
3.5
As of February 28, 2020

Investments

Domestic Equity

  • Vanguard Institutional Index Fund - VINIX
  • Champlain Mid Cap Core Fund - CIPIX

International Equity

  • MFS Institutional International Equity Fund - MIEIX
  • Vanguard Total International Stock Index Fund - VTSNX
  • Parametric Emerging Markets Fund - EITEX
  • Vanguard Emerging Market Stock Index Fund - VEMIX
  • SSGA MSCI EAFE 100% Hedged

Fixed Income

  • Vanguard Total Bond Market Index Fund - VBTIX
  • Vanguard Short Term Bond Fund - VBITX
  • Payden Limited Maturity Fund - PYLMX
  • Lord Abbett Short Duration Income Fund Class F3 – LOLDX
  • Palmer Square Income Plus Fund LLC
  • FIAM Tactical Bond Fund, LP

Flexible Capital

  • FPA Crescent Fund - FPACX
  • BlackRock Strategic Income Opportunities Fund - BSIIX
  • John Hancock Seaport Long/Short Fund - JSFRX
  • Blackrock Event Driven Equity Fund - BILPX
  • Hatteras Core Alternative TEI Institutional LP

Private Equity

  • Creation Investments Social Ventures Fund I

Real Assets

  • SSGA Real Asset NL CTF
  • Vanguard Short Term Inflation Protected Secs Fund - VTSPX

Cash

  • Federated Government Obligations Fund - GOIXX

Balanced Income

Seeks a less aggressive exposure to equity risk with 35% allocation to domestic and international equities. Leans toward income-producing, risk-reducing asset classes and holdings that are diversified across classes.

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Overview

Risk Profile: Medium risk

Grant Making: For givers who plan to grant their fund's balance within 2-3 years

Expense Ratio: 1.20

Target Allocation

  • 5% Global Equity
  • 11% Domestic Equity
  • 14% International Equity
  • 39% Fixed Income
  • 10% Flexible Capital
  • 6% Real Assets
  • 5% REITs
  • 10% Cash

Current Pool Performance

YTD (%)
3 MO (%)
1 YR (%)
3 YR (%)
5 YR (%)
Gross returns
-2.2
-0.4
5.9
5.7
5.1
Returns net of investment fees
-2.4
-0.6
4.6
4.4
3.7
Benchmark
-2.3
-0.4
5.2
4.8
4.2
As of February 28, 2020

Investments

Global Equity

  • GQG Partners Global Equity Fund

Domestic Equity

  • Vanguard Institutional Index Fund - VINIX
  • Champlain Mid Cap Core Fund - CIPIX

International Equity

  • Vanguard Total International Stock Index Fund - VTSNX
  • Vanguard Emerging Market Stock Index Fund - VEMIX
  • Delaware International Small Cap R6 – DGRRX
  • SSGA MSCI EAFE 100% Hedged

Fixed Income

  • Vanguard Total Bond Market Index Fund - VBTIX
  • Payden Limited Maturity Fund - PYLMX
  • Lord Abbett Short Duration Income Fund Class F3 – LOLDX
  • Palmer Square Income Plus Fund LLC
  • FIAM Tactical Bond Fund, LP

Flexible Capital

  • FPA Crescent Fund - FPACX
  • BlackRock Strategic Income Opportunities Fund - BSIIX
  • John Hancock Seaport Long/Short Fund - JSFRX
  • Blackrock Event Driven Equity Fund - BILPX
  • Hatteras Core Alternative TEI Institutional LP

Private Equity

  • Creation Investments Social Ventures Fund I

Real Assets

  • SSGA Real Asset NL CTF
  • Vanguard Short Term Inflation Protected Secs Fund - VTSPX

REITs

  • Vanguard Real Estate Index Fund - VGSNX
  • Vanguard Global Except-U.S. Real Estate Index - VNQI

Cash

  • Federated Government Obligations Fund - GOIXX
  • Distribution Cash
  • Hatteras Cash Reserves - FDRXX

Balanced Growth

Seeks an asset mix that is higher risk than the more conservative pool options, with a 50% allocation to domestic and international equities.

View all returns (PDF)

Overview

Risk Profile: Moderate risk

Grant Making: For givers who plan to grant amounts within 3-4 years

Expense Ratio: 1.22

Target Allocation

  • 5% Global Equity
  • 18% Domestic Equity
  • 22% International Equity
  • 25% Fixed Income
  • 10% Flexible Capital
  • 5% Real Assets
  • 5% REITs
  • 10% Cash

Current Pool Performance

YTD (%)
3 MO (%)
1 YR (%)
3 YR (%)
5 YR (%)
Gross returns
-4.0
-1.9
4.8
5.9
5.9
Returns net of investment fees
-4.2
-2.2
3.6
4.6
4.6
Benchmark
-4.3
-2.0
4.2
5.1
5.2
As of February 28, 2020

Investments

Global Equity

  • GQG Partners Global Equity Fund

Domestic Equity

  • Vanguard Institutional Index Fund - VINIX
  • Champlain Mid Cap Core Fund - CIPIX

International Equity

  • Vanguard Total International Stock Index Fund - VTSNX
  • Parametric Tax-Managed Emerging Fund - EITEX
  • Vanguard Emerging Market Stock Index Fund - VEMIX
  • Delaware International Small Cap R6 – DGRRX
  • SSGA MSCI EAFE 100% Hedged

Fixed Income

  • Vanguard Total Bond Market Index Fund - VBTIX
  • Payden Limited Maturity Fund - PYLMX
  • Lord Abbett Short Duration Income Fund Class F3 – LOLDX
  • Palmer Square Income Plus Fund LLC
  • FIAM Tactical Bond Fund, LP

Flexible Capital

  • FPA Crescent Fund - FPACX
  • BlackRock Strategic Income Opportunities Fund - BSIIX
  • John Hancock Seaport Long/Short Fund - JSFRX
  • Blackrock Event Driven Equity Fund - BILPX
  • Hatteras Core Alternative TEI Institutional LP

Private Equity

  • Creation Investments Social Ventures Fund I

Real Assets

  • SSGA Real Asset NL CTF
  • Vanguard Short Term Inflation Protected Secs Fund - VTSPX

REITs

  • Vanguard Real Estate Index Fund - VGSNX
  • Vanguard Global Except-U.S. Real Estate Index - VNQI

Cash

  • Federated Government Obligations Fund - GOIXX
  • Distribution Cash
  • Hatteras Cash Reserves - FDRXX

Growth

Seeks growth through the highest-risk asset mix of the pool options, with a 70% allocation to domestic and international equities.

View all returns (PDF)

Overview

Risk Profile: Highest risk

Grant Making: Long-term investment option for givers who plan to grant amounts more than 4-5 years in the future

Expense Ratio: 1.18

Target Allocation

  • 14% Global Equity
  • 28% Domestic Equity
  • 25% International Equity
  • 11% Fixed Income
  • 5% Flexible Capital
  • 4% Real Assets
  • 3% REITs
  • 10% Cash

Current Pool Performance

YTD (%)
3 MO (%)
1 YR (%)
3 YR (%)
5 YR (%)
Gross returns
-5.0
-2.9
5.7
7.4
N/A
Returns net of investment fees
-5.2
-3.1
4.4
6.1
N/A
Benchmark
-6.5
-4.0
3.8
5.8
N/A
As of February 28, 2020

Investments

Global Equity

  • BNY Mellon Global Stock Fund - Class Y – DGLYX
  • GQG Partners Global Equity Fund

Domestic Equity

  • Vanguard Institutional Index Fund - VINIX
  • Champlain Mid Cap Core Fund - CIPIX

International Equity

  • Vanguard Total International Stock Index Fund - VTSNX
  • MFS Institutional International Equity Fund - MIEIX
  • Parametric Emerging Market Fund - EITEX
  • Vanguard Emerging Market Stock Index Fund - VEMIX
  • Delaware International Small Cap R6 – DGRRX
  • SSGA MSCI EAFE 100% Hedged

Fixed Income

  • Vanguard Total Bond Market Index Fund - VBTIX
  • Payden Limited Maturity Fund - PYLMX
  • Lord Abbett Short Duration Income Fund Class F3 – LOLDX
  • Palmer Square Income Plus Fund LLC

Flexible Capital

  • FPA Crescent Fund - FPACX
  • BlackRock Strategic Income Opportunities Fund - BSIIX

Private Equity

  • Creation Investments Social Ventures Fund I

Real Assets

  • SSGA Real Asset NL CTF
  • Vanguard Short Term Inflation Protected Secs Fund - VTSPX

REITs

  • Vanguard Real Estate Index Fund - VGSNX
  • Vanguard Global Except-U.S. Real Estate Index - VNQI

Cash

  • Federated Government Obligations Fund - GOIXX
  • Distribution Cash

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