The Episcopal Diocese of Los Angeles Diocesan Investment Trust (DIT) was created in 1949 as a valuable service from the Diocese offered to our congregations and institutions. It has been used over time to relieve local churches and church affiliates of the burden and worry of oversight of monies which need to last and grow over time for the church's purposes.

Approximately 200 shareholders representing a variety of churches and church institutions are invested in the DIT. The account size ranges from hundreds to millions of dollars. The DIT is best used as a long-term investment vehicle. Transactions in or out are restricted to the end of each calendar month.

Automatic Income Reinvestment Update:
Through the first fiscal quarter of 2006, dividends have been declared and paid at the end of each fiscal quarter. Since the dividend amount varied according to market conditions, it was difficult for those shareholder organizations, which expect quarterly income, to accurately budget what that income is going to be.
 

Beginning the second fiscal quarter of 2006, all DIT income will be credited to the fund's market value and reflected in the share price. Therefore, the shareholders that desire a regular (monthly or quarterly) income stream from DIT holdings are recommended to establish a regular redemption schedule with the shareholder administrator, Northeast Retirement Services.

New Investment Option Available September 1, 2006
Currently, the DIT offers a well-diversified balanced investment option designed for longer-term investments. The Trustees are pleased to introduce a new investment option for shorter-term investment needs. This new option, called the DIT Monthly Money Market Fund is available to you as of September 1, 2006. Click here for more information and a comparison of the two funds. The original DIT offering will be renamed the  Diocesan Investment Trust Long-Term Diversified Fund.

DIT Trustees selected the Frank Russell Company as the investment manager effective November 2003. State Street Bank and NRS (Northeast Retirement Services) are the Trust's custodian and record keeper respectively. As of November 2007 the asset allocation of the Diocesan Investment Trust Long-Term Diversified Fund is:

The asset allocation is automatically rebalanced when any of the asset classes vary by more than plus or minus two percentage points from the percentages above.

If you are interested in obtaining a Russell fund prospectus, please contact Joe Mikula at NRS via phone at 781-970-5043 or via email at jmikula@nrstpa.com

To help your church/institution take next steps, please select one of the following:

Click here for information on opening an account.
Click here for current share and dividend information.
Click here for information on purchasing or redeeming shares.
Click here for information on how shares are valued.
Click here for information about accessing account information, including detailed Monthly Performance Reports, via the internet

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