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LDS Church made $6 billion profit on investment fund in 2020
Posted: Sat Feb 13, 2021 9:02 am
by IHAQ
The Church of Jesus Christ of Latter-day Saints made $6 billion in 2020 through an investment fund according to FOX 13 reports.
The numbers were reported in a new filing with the U.S. Securities and Exchange Commission.
The fund, called Ensign Peak Advisors, is heavily invested in tech, according to FOX 13. Holdings in companies such as Tesla and Amazon helped boost the fund last year. What started as $1 million invested in Tesla became $330 million, according to FOX 13.
The fund divested from some oil companies during the year, according to FOX 13.
https://www.sltrib.com/news/2021/02/13/ ... e-billion/
As Fox points out, this is $6 billion on only part of the Church's investment strategy.
A new filing with the U.S. Securities and Exchange Commission shows The Church of Jesus Christ of Latter-day Saints’ big investment fund made money in 2020.
The fund, called Ensign Peak Advisors, grew by $6.2 billion, finishing the year with $44 billion.
Ensign Peak only began issuing quarterly reports a year ago, meaning Friday’s filing is the first time the church’s members can track Ensign Peak’s annual performance. The fund is the largest component of stock portfolio estimated at $100 million in 2019.
https://www.fox13now.com/news/local-new ... DUVySbgw5k
What are the chances that a full financial accounting will be given at the April Conference?
Re: LDS Church made $6 billion profit on investment fund in 2020
Posted: Sat Feb 13, 2021 4:05 pm
by Gabriel
IHAQ wrote: ↑Sat Feb 13, 2021 9:02 am
What are the chances that a full financial accounting will be given at the April Conference?
I don't know. They usually tend to wax poetical when speaking of these matters. I believe that Hinckley would have said "We have enough for a rainy day." If given the opportunity, I imagine that Maxwell (who fancied himself a latter-day Cicero) would have have bumped it up a notch or two to "Brethren, blessings continue to shower upon us like Mammon from heaven."
Or some such thing.
Re: LDS Church made $6 billion profit on investment fund in 2020
Posted: Sat Feb 13, 2021 4:42 pm
by Dr Exiled
Greedy Jesus loves it:
Re: LDS Church made $6 billion profit on investment fund in 2020
Posted: Sat Feb 13, 2021 4:49 pm
by Dr Exiled
Take a look at the link for Tesla stock. I bet Jesus told his servants to invest around the end of January, 2020, just when covid-19 was beginning to ravage the world. At least greedy Mormon Jesus has his priorities straight.
https://finance.yahoo.com/chart/TSLA#ey ... I6MX19XX0-
Re: LDS Church made $6 billion profit on investment fund in 2020
Posted: Sat Feb 13, 2021 6:08 pm
by Analytics
IHAQ wrote: ↑Sat Feb 13, 2021 9:02 am
The Church of Jesus Christ of Latter-day Saints made $6 billion in 2020 through an investment fund according to FOX 13 reports.
The numbers were reported in a new filing with the U.S. Securities and Exchange Commission.
The fund, called Ensign Peak Advisors, is heavily invested in tech, according to FOX 13. Holdings in companies such as Tesla and Amazon helped boost the fund last year. What started as $1 million invested in Tesla became $330 million, according to FOX 13.
The fund divested from some oil companies during the year, according to FOX 13.
https://www.sltrib.com/news/2021/02/13/ ... e-billion/
As Fox points out, this is $6 billion on only part of the Church's investment strategy.
A new filing with the U.S. Securities and Exchange Commission shows The Church of Jesus Christ of Latter-day Saints’ big investment fund made money in 2020.
The fund, called Ensign Peak Advisors, grew by $6.2 billion, finishing the year with $44 billion.
Ensign Peak only began issuing quarterly reports a year ago, meaning Friday’s filing is the first time the church’s members can track Ensign Peak’s annual performance. The fund is the largest component of stock portfolio estimated at $100 million in 2019.
https://www.fox13now.com/news/local-new ... DUVySbgw5k
What are the chances that a full financial accounting will be given at the April Conference?
Did they indicate whether there were any infusions or distributions into or out of the fund?
Re: LDS Church made $6 billion profit on investment fund in 2020
Posted: Mon Feb 15, 2021 5:25 am
by Dr Moore
I keep seeing headlines like “Mormon church made $6.8b during the pandemic.”
This figure is wrong.
The real number is closer to $20 billion.
Re: LDS Church made $6 billion profit on investment fund in 2020
Posted: Mon Feb 15, 2021 7:59 am
by IHAQ
Dr Moore wrote: ↑Mon Feb 15, 2021 5:25 am
I keep seeing headlines like “Mormon church made $6.8b during the pandemic.”
This figure is wrong.
The real number is closer to $20 billion.
I think the article in the OP and the OP itself make it clear that the reported $6 billion profit is on a single investment fund, rather than a reflection of all the profits made by the Church for 2020 across all their investment funds, property gains, donation income etc.
Your total $20 billion estimate seems reasonable to me, but I’d be interested to see your workings in arriving at that number.
Re: LDS Church made $6 billion profit on investment fund in 2020
Posted: Mon Feb 15, 2021 12:12 pm
by Moksha
Tesla is a wise investment for that Missionaries in Space thing.
Has knowing about the Church's investment prowess helped boost tithing collections? If so, that could be another miracle for Elder Bednar to consider.
Re: LDS Church made $6 billion profit on investment fund in 2020
Posted: Mon Feb 15, 2021 2:11 pm
by IHAQ
Moksha wrote: ↑Mon Feb 15, 2021 12:12 pm
Tesla is a wise investment for that Missionaries in Space thing.
Has knowing about the Church's investment prowess helped boost tithing collections? If so, that could be another miracle for Elder Bednar to consider.
I hope the Brethren have sufficient faith to not require my money.
Re: LDS Church made $6 billion profit on investment fund in 2020
Posted: Tue Feb 16, 2021 5:33 pm
by Analytics
Dr Moore wrote: ↑Mon Feb 15, 2021 5:25 am
I keep seeing headlines like “Mormon church made $6.8b during the pandemic.”
This figure is wrong.
The real number is closer to $20 billion.
Is $20 billion an estimate of total gross income, or an estimate of the total profit that accumulated on the balance sheet over the year?