Updated with correction.
GuideStone Capital Management LLC’s Global Impact Fund had $144 million in assets under management as of June 7. An incorrect amount appeared in the July 4 issue of Pensions & Investments.
GuideStone Capital Management LLC has donated $100,000 to a group that is helping Ukrainian refugees affected by Russia's invasion of the country.
Half of the donation to non-profit organization Send Relief is the result of the faith-based money manager's commitment to give 20% of the returns from its Global Impact Fund to charity, said David Spika, chief investment officer, in a phone interview.
Mr. Spika said while the Dallas-based manager has traditionally screened out industries that ran counter to the Christian values they espouse, several years ago they decided to be more proactive.
"If we really want to have a meaningful impact in the world, we need to be owning securities in companies that are doing good," Mr. Spika said. That led to the creation of the Global Impact Fund.
Send Relief is a collaboration between the International Mission Board and North American Mission Board, and Mr. Spika said last year that GuideStone's donation to the organization funded efforts to provide medicine, food and basic necessities to people in Venezuela
This year, the donation funds Send Relief's efforts to help Ukrainian refugees who have fled to Poland.
"Hopefully, the fund will grow and we'll be able to do more good around the world," Mr. Spika said.
GuideStone Capital Management has $18.2 billion in assets under management. The Global Impact Fund, which was launched in January 2021, had $144 million in AUM as of June 7.
