$7.3 Billion Southern Baptist Retirement Fund Offers Services to Other Churches, Organizations.DALLAS -- One of Nation's 125 Largest Retirement Funds Markets Retirement and Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Outside Denomination Denomination The stated value found on financial instruments. Notes: This term applies to most financial instruments with monetary values. The denomination for bonds and securities would be face value or par value. , After Serving Only Southern Baptists Noun 1. Southern Baptist - a member of the Southern Baptist Convention Southern Baptist Convention - an association of Southern Baptists Baptist - follower of Baptistic doctrines for 85 Years The nation's largest Protestant denomination Noun 1. Protestant denomination - group of Protestant congregations Protestant Church, Protestant - the Protestant churches and denominations collectively will now begin providing retirement and financial services to churches and Christian organizations outside of the Southern Baptist Convention Noun 1. Southern Baptist Convention - an association of Southern Baptists association - a formal organization of people or groups of people; "he joined the Modern Language Association" Southern Baptist - a member of the Southern Baptist Convention ; a move that will greatly expand its market beyond the 140,000 employees of the denomination's organizations currently participating. The move to offer financial services to organizations outside the Southern Baptist Convention is expected to increase the $7.3 billion fund's asset base (Pensions & Investments magazine ranks it as one of the nation's 125 largest); provide greater buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. ; and enhance its ability to provide more competitive products and services. Now operating under a new name, GuideStone Financial Resources of the Southern Baptist Convention, the organization offers a broad range of financial services including retirement, group life and health plans, individual investment products, and institutional investment products with Christian-based social screening. "This expansion of our market will prove to be a great benefit to thousands of churches which are unaffiliated with a denomination and don't have access to competitive retirement and group life and health plans," said GuideStone's President O.S. Hawkins. "It will also be attractive to countless Christian organizations who want to do business with someone who shares their values and reflects those values in an investment policy without sacrificing financial performance." John Jones, GuideStone's chief financial officer, commented that "organizations of all sizes will be attracted to our 17 proprietary registered mutual funds, access to best-of-class, top-tier investment firms and strategies, and our rigorous evaluation, selection, and monitoring process."(a) GuideStone's $7.3 million asset base (December 2003) is up from $6.1 billion in December 2002 with assets climbing 7.5 percent in the 4th quarter of 2003. (a) A subsidiary of GuideStone Financial Services serves as investment adviser to the registered mutual funds. Shares of the funds are distributed by PFPC PFPC Professional Financial Planning Course (Canadian Securities Institute) Distributors, Inc., a registered broker-dealer, 760 Moore Rd., King of Prussia King of Prussia, industrialized suburban area (1990 pop. 18,406), Montgomery co., SE Pa. It has glass and steel fabricating, food processing, printing and publishing, and varied manufacturing (textiles, liquified petroleum gas, water-treatment and electrical , PA 19406. An investor should consider the investment objectives, risks, charges, and expenses of the mutual funds carefully before investing. A prospectus with this and other information about the funds may be obtained by calling 1-800-262-0511. It should be read carefully before investing. |
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