For Robert Leech, work and faith go hand in hand: Mr. Leech is president of both the Presbyterian Church U.S.A. Foundation and its family of four mutual funds.
The $1.5 billion New Covenant Funds are guided by religious and socially responsible investing principles. They also help support the mission of the Presbyterian Foundation through asset management fees, which range from 113 basis points on the New Covenant Growth Fund to 80 basis points for the New Covenant Income Fund. Earnings are donated to Presbyterian mission projects. The foundation paid out $75 million last year, up from $69 million in 2003, and that amount will likely reach $90 million in the next four or five years if the market continues to perform well, he said.
Mr. Leech is a lifelong Presbyterian and church elder who has been able to combine his faith with his profession. "I'm a business man who went to church," he said.