The most prominent investment portfolio of The Church of Jesus Christ of Latter-day Saints grew by $4.1 billion as 2022 drew to a close.
The Church Office Building, shown in March 2022, in downtown Salt Lake City. The Church of Jesus Christ of Latter-day Saints' most prominent investment fund reported a value of $44.4 billion at the end of last year.
Disclosures from 2022 show Ensign Peak lost $3.1 billion in the first three months of the year, followed by $7.1 billion in April, May and June and $1.8 billion in July, August and September. The fund of U.S. stocks, mutual funds and foreign equities then surged 10.3% in the final quarter as volatile markets bounced back over signs that soaring inflation may have peaked.The account fell short, though, of a 16% overall gain in the same quarter for the Dow Jones Industrial Average.
The church investments remain 48.65% ahead of their pandemic low in the first quarter of 2020, when the fund plunged to $29.9 billion as global investors reacted to the COVID-19 pandemic.
The church has said Ensign Peak’s managers avoid investments in industries that faithful Latter-day Saints consider objectionable, including alcohol, tobacco, coffee and gambling. Otherwise, its quarterly reports to federal regulators suggest it operates much like other broadly based, professionally managed portfolios of stocks and mutual funds.
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