Massachusetts American Baptist Investment Trust
The Massachusetts American Baptist Investment Trust or MABIT was formed in 1993 to allow churches to participate in investment vehicles and strategies that they may not have access to otherwise due the size of individual investments. Management fees are also reduced due to the amount of our collective pooled investments. Approximately 30 Massachusetts Baptist churches invest in MABIT. The current Trust assets total more than $8M.
The MABIT Board of Trustees consists of volunteer Baptists from Massachusetts. The Board oversees the overall trust fund and the relationship with the Barcomb, Tanguay & Associates Group, a division of Merrill Lynch Wealth Investment. The Barcomb Tanguay Group acts in a fiduciary role in managing the trust fund. The Trust has consistently outperformed equivalent market indices. The MABIT Board of Trustees has historically recommended a 60% equity and 40% fixed return portfolio mix. However, please note that your own risk tolerance should determine your mix of investments. Each investing church always determines its own level of risk and portfolio mix.
Certain investment options that are deemed as not socially responsible are automatically eliminated. A list of approximately 20 products and services such as alcohol, pornography and tobacco are screened out.
Your money in MABIT is readily accessible. There are no CD maturity dates or other restrictions that limit access to your money when you need it. Some MABIT investors take automatic distributions to cover operating expenses while others make withdrawal requests to cover one-time expenses.
Any church interested in the help MABIT can provide can contact Dave Lambert, Chair of MABIT’s Board of Trustees for further information. He will be happy to meet with you, and arrange a meeting with you and representatives from the Barcomb, Tanguay & Associates Group to go over program options. Dave can be reached at 978.459.6959 or lambert@mit.edu. Dave is a member of First United Baptist in Lowell. Other board members are Dr. Bengt Hermanrud (Secretary), Rev. Dr. Richard Haley (Treasurer), Rev. Diane Badger, Nelda Cronin, Esq., Weimin Feng.
MABIT Board of Trustees
|
David Lambert, Chair First United Baptist, Lowell lambert@mit.edu 978-459-6959 |
Dr. Bengt Hermanrud, Secretary Community Baptist, Medford |
Rev. Dr. Richard Treasurer |
| Rev. Diane Badger TABCOM, Groton |
Weimin Feng First Baptist, Wakefield |
Nelda Cronin, Esq. First Baptist, Chelmsford |