An investment strategy designed to maximize investment returns over the long-term is a key principle on which The Ministers and Missionaries Benefit Board was founded. To execute a strategy that combined prudence with a desire to maximize returns, in 1913 the Board established an investment committee of three highly skilled finance professionals. A winning combination of professional expertise and dedication, they established a standard of investment principles and policies that the Investment Committee still follows today.
MMBB led the way in taking advantage of investment opportunities. When New York State expanded the ability of retirement funds to invest in common stock, MMBB quickly expanded its stock holdings. This allowed MMBB to adopt a more aggressive long-term investment approach and initiated a period of tremendous growth. MMBB assets under management increased from $40.25 million in 1951 to more than $2.3 billion at the end of 2010.
During the 1960s, MMBB addressed how to balance its fiduciary responsibilities with demands from members and denominational leaders to support investments in minority communities in the United States. To achieve this goal, MMBB’s professional investment committee recommended investing $300,000 in twenty banks in disadvantaged communities.
In 1981, MMBB severed ties with Citibank and Chase Manhattan Bank in protest over their South African investments. In 1985, MMBB adopted a resolution opposing South African apartheid.