Investments

Investment Philosophy

It is the firm’s strong belief that it is not necessary to sacrifice returns while investing according to the Catholic faith. Moreover, CBIS believes the competitive performance we seek to deliver will emerge from the firm’s ability to identify skilled investment managers and combine them in a fashion that improves the overall risk/return characteristics of an investment portfolio.

Multi-manager Structure

In an effort to best deliver a broadly diversified and disciplined set of investing solutions for Catholic investors, CBIS employs a “manager of managers” approach to portfolio development and management. Through extensive research and analysis, the firm seeks to hire the industry’s premier asset managers to sub-advise its portfolios.

The CBIS Investment Team conducts a thorough evaluation of managers before they are hired as sub-advisors. Once selected, CBIS sub-advisors are carefully monitored to ensure they are implementing their strategies while aiding CBIS with our active ownership goals and avoiding investment in companies which violate Catholic teaching.

Identifiable Core
Competency

Conviction

Longer Term
Investment
Horizon

CRI Quarterly Review – Q2 2023

Read the conversation with Chief Investment Officer John W. Geissinger and Juhi Dhawan, PhD. of Wellington Management Company, LLP as they discuss global labor dynamics, inflation, and economic growth.

Download PDF

CRI Quarter Podcast – Q2 2023

Tune in to our quarterly conversation with John Geissinger, CFA, Chief Investment Officer, and Juhi Dhawan, PhD of Wellington Management Company, LLP as they discuss global labor dynamics

Watch Part One Here
Watch Part Two Here

Investment Process

By combining sub-advisors with unique and complementary styles, the CBIS Investment Team seeks to construct and manage funds that provide superior risk-adjusted returns in their style category while incorporating the CRI strategy as an overlay to the investment process. CBIS sub-advisors are carefully analyzed to ensure they can implement their strategies while incorporating Catholic screens.

Through a robust, repeatable construction process, each CBIS Portfolio is built to include:

Intention
  • Long-term Outlook
  • High Conviction
  • Correlations
  • All Market Environments Drivers
Multiple Return Drivers
  • Investment Style
  • ITop-down/Bottom-up
  • Interest rate/Sector strategy
Diversification
  • No Specific Return Driver Bias
  • Complementary/Low
  • Multiple return

Manager Selection Process

There’s No “C” in “ESG”

There’s No “C” in “ESG”

How is Catholic Responsible Investing different than Environmental, Social, and Governance (ESG) investing?

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CBIS Global Funds

Each Fund invests in transferable securities and liquid financial assets in accordance with the UCITS Regulations. The allocation of assets of a Fund between the sub-investment managers is at the sole discretion of CBIS. Each Fund invests in accordance with the principles of CBIS Catholic Responsible Investments.

Investment Offerings

CBIS Global Funds plc is an umbrella fund containing FOUR sub-funds:

Select a Fund Below to Learn More

  • European Short Term Government Bond Fund

  • World Bond Fund

  • European Equity Fund

  • World Equity Fund

  • World Equity Fund
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    Objective

    Seeks long-term capital appreciation through investment in equities of medium to large capitalization companies (including preferred stock or convertible securities) issued by companies worldwide.

    Investments

    Equities of medium- to large-capitalization companies (market cap > 350 million euros). Primarily in major developed markets. May invest up to 30% in emerging markets. 

    Strategy

    Emphasizes diversification across companies in different regions and industry sectors, primarily in developed markets; may invest up to 30% in companies in emerging markets.

    Benchmark

    EUR Class: MSCI All Country World Index (Euro); USD Class: MSCI All Country World Index (USD)

    Manager(s)

    • Hardman Johnston Global Advisors LLC
    • Maj Invest

    Fund Facts
    Inception Date EUR Class: February 23, 2015
    USD Class: May 25, 2017
    Net Asset Value EUR: €176.4081
    USD: $150.4704
    (09/29/2023)
    Minimum Investment EUR Class: €50,000
    USD Class: $65,000
    Expense Ratio (Gross) EUR Class: 1.30%
    USD Class: 1.30%
    ISIN EUR Class: IE00BKRTPF98
    USD Class: IE00BKRTPD74
    Annual Average Total Returns as of 06/30/2023
              Annualized
    Trailing Three Months Year to Date One Year Three Years Five Years Ten Years Since Inception
    World Equity Fund (EUR) 5.28 11.78 10.16 10.48 8.34 * 7.07
    EUR Benchmark 5.90 11.78 12.24 12.60 10.12 * 8.76
    World Equity Fund (USD) 5.93 13.94 14.71 9.41 6.88 * 7.53
    US Benchmark 6.35 14.26 17.13 11.51 8.64 * 9.05
    Please review our important disclosures.
    • Returns are presented net of fees and include the reinvestment of income and past performance is not indicative of future results. Net of fees includes management fees, operating expenses, and fee reductions and/or expense reimbursements. See the fund prospectus for additional information.
    • Since inception performance for each benchmark index is calculated based on the inception date of each corresponding Fund share class and reflects no deduction for fees, expenses or taxes.
    Fund Prospectus
    Fact Sheet
    Attribution
    Top 10 Holdings
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    World Equity Fund
    Fund Prospectus

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

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    World Equity Fund
    Fact Sheet

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

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    World Equity Fund
    Attribution

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

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    World Equity Fund
    Top Ten Holdings

  • European Equity Fund
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    Objective

    Seeks capital appreciation through investment in European equities with market capitalization greater than 65 million euros. Focuses exclusively on developed European markets.

    Investments

    European equities with market capitalization greater than 65 million euros. Focused exclusively on developed European markets. 

    Strategy

    Diversify portfolio using strict controls on the level of investment in any particular industry to maximise the impact of individual stock selection – assess relative earnings strength and valuation discrepancies within industry groups, based upon the premise that stock markets are reasonably, but not perfectly, efficient; investor sentiment is considered through analysis of earnings revisions, analyst recommendations and price behavior.

    Benchmark

    MSCI Europe Index

    Manager(s)

    Degroof Petercam Asset Management

    Fund Facts
    Inception Date July 9, 2010
    Net Asset Value €194.7490 (09/29/2023)
    Minimum Investment €50,000
    Expense Ratio (Gross) 1.55%
    ISIN IE00B3DD4Y80
    Annual Average Total Returns as of 06/30/2023
              Annualized
    Trailing Three Months Year to Date One Year Three Years Five Years Ten Years Since Inception
    European Equity Fund 1.43 10.40 14.97 9.13 2.04 6.02 5.34
    Benchmark 2.70 11.72 17.48 12.45 7.27 8.20 8.19
    Please review our important disclosures.
    • Returns are presented net of fees and include the reinvestment of income and past performance is not indicative of future results. Net of fees includes management fees, operating expenses, and fee reductions and/or expense reimbursements. See the fund prospectus for additional information.
    • Since inception performance for each benchmark index is calculated based on the inception date of each corresponding Fund share class and reflects no deduction for fees, expenses or taxes.
    Fund Prospectus
    Fact Sheet
    Attribution
    Top 10 Holdings
    +

    European Equity Fund
    Fund Prospectus

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

    +

    European Equity Fund
    Fact Sheet

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

    +

    European Equity Fund
    Attribution

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

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    European Equity Fund
    Top Ten Holdings

  • World Bond Fund
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    Objective

    Seeks sustainable income with modest capital appreciation. Focuses primarily on investment-grade sovereign, supranational, corporate and mortgage debt securities, including securitizations, worldwide.

    Investments

    Investment grade sovereign, supranational, corporate, and mortgage debt securities, including securitizations, worldwide.

    Strategy

    Emphasizes worldwide country and issuer exposure to companies with improving financial health relative to their peers; combines quantitative and fundamental analysis in seeking to optimize portfolio structure across country, currency, duration and yield curve exposures — uses top down/ bottom up approach to determine sectors and issuers

    Benchmark

    Bloomberg Global Aggregate Bond Index

    Manager(s)

    Degroof Petercam Asset Management

    Wellington Management Company

    Fund Facts
    Inception Date July 9, 2010
    Net Asset Value €121.0399 (09/29/2023)
    Minimum Investment €50,000
    Expense Ratio (Gross) 0.85%
    ISIN IE00B3DD4X73
    Annual Average Total Returns as of 06/30/2023
              Annualized
    Trailing Three Months Year to Date One Year Three Years Five Years Ten Years Since Inception
    World Bond Fund -1.47 -0.07 -3.64 -3.20 0.32 1.64 1.55
    Benchmark -1.94 -0.78 -5.44 -4.04 0.27 1.97 2.03
    Please review our important disclosures.
    • Returns are presented net of fees and include the reinvestment of income and past performance is not indicative of future results. Net of fees includes management fees, operating expenses, and fee reductions and/or expense reimbursements. See the fund prospectus for additional information.
    • Since inception performance for each benchmark index is calculated based on the inception date of each corresponding Fund share class and reflects no deduction for fees, expenses or taxes.
    Fund Prospectus
    Fact Sheet
    Attribution
    Top 10 Holdings
    +

    World Bond Fund
    Fund Prospectus

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

    +

    World Bond Fund
    Fact Sheet

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

    +

    World Bond Fund
    Attribution

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

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    World Bond Fund
    Top Ten Holdings

  • European Short-Term Government Bond Fund
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    Objective

    Seeks income-producing instruments: European government and high quality European corporate bonds

    Investments

    Short-term bonds issued by European national governments. Will also invest in high-quality European corporate securities.

    Additional Information

    Effective June 1, 2017, the benchmark for the European Short Bond Fund was changed to the 80% Bloomberg Euro Aggregate Treasury (1-3 Yr) Index/20% Bloomberg Euro Aggregate Corporate (1-3Yr) Index. For periods prior to June 1, 2017, the applicable benchmark was the Bloomberg European Government 1-3 Year Term Index.

    Strategy

    Diversify across investment grade short-term fixed-income securities, primarily direct government obligations; these may include discount and zero coupon instruments, money market funds and exchange-traded government futures contracts and forward currency exchange contracts for the purposes of managing portfolio duration, yield curve positioning or trading execution on a more cost-effective basis.

    Benchmark

    Bloomberg Euro Aggregate: 80 % Treasury (1-3 Yr) Index / 20% Corporate (1-3 Yr) Index

    Manager(s)

    ARCA Fondi SGR SpA

    Fund Facts
    Inception Date May 6, 2009
    Net Asset Value €106.8071 (09/29/2023)
    Minimum Investment €50,000
    Expense Ratio (Gross) 0.45%
    ISIN IE00B3R5XB01
    Annual Average Total Returns as of 06/30/2023
              Annualized
    Trailing Three Months Year to Date One Year Three Years Five Years Ten Years Since Inception
    European Short-Term Government Bond Fund -0.14 0.59 -1.79 -1.79 -1.13 -0.30 0.43
    Benchmark -0.15 0.64 -1.61 -1.46 -0.81 -0.01 0.81
    Please review our important disclosures.
    • Returns are presented net of fees and include the reinvestment of income and past performance is not indicative of future results. Net of fees includes management fees, operating expenses, and fee reductions and/or expense reimbursements. See the fund prospectus for additional information.
    • Since inception performance for each benchmark index is calculated based on the inception date of each corresponding Fund share class and reflects no deduction for fees, expenses or taxes.
    Fund Prospectus
    Fact Sheet
    Attribution
    Top 10 Holdings
    +

    European Short-Term Government Bond Fund
    Fund Prospectus

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

    +

    European Short-Term Government Bond Fund
    Fact Sheet

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

    +

    European Short-Term Government Bond Fund
    Attribution

    Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. Please read the Fund’s prospectus for more information about the Fund and risk profile.

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    European Short-Term Government Bond Fund
    Top Ten Holdings