International Equity Index Fund

Objectives & Strategy

Objective

Reflects performance of the broad non-US developed equity market.

Strategy

The International Equity Index Fund is invested in the stocks of companies that are located outside of the United States and is passively managed. This means that it is intended to perform in line with the benchmark, which invests in the non-US developed equity markets and holds stocks (equities) of both large, well established companies, as well as those of smaller companies. The benchmark for this fund is broadly representative of stock markets in Europe, Australia, the Far East, and Canada.

This fund seeks to mirror, rather than outperform, this broad market, it uses a passive style of investing. This means that the fund manager does not choose between stocks on the basis of which stocks are likely to perform better or worse than others. Although the fund seeks to track the index, its results will be lower due to investment and administration expenses. The net return will be the result of general market performance, less total expenses.

Historically, over long periods of time, the international equity (stock) market has tended to provide higher returns than other investments, such as bonds or money market funds. While there is no guarantee that this will be the case in the future, investment theory suggests that higher returns over the long term are a key reason investors would select an option like this one.

The International Equity Index Fund provides an opportunity to access investments outside of the United States because the world is becoming increasingly global and the U.S. is only one part of the world economy. This fund is well-diversified among various regions of the world and diversified among industries within regions.

It is possible that during times when the U.S. equity market is in decline, non-U.S. markets may decline less or even turn in positive returns.

All securities investments risk the loss of capital. Since this fund is invested predominantly in equities (stocks), the chance of losing a percentage of your original investment is much higher than with some other investment options.

See historical returns and volatility to compare risk and return among MMBB’s investment options.

All stock markets can be volatile. Although, over long periods of time, investors in stocks may enjoy higher returns than investors in other options. They can also lose more money than those investing in other options. Sharp and unpredictable changes in value, either positive or negative, can be especially acute over shorter periods of time.

International equity investing carries certain additional risks. Currency risk is one of the primary additional risks for investors in international equities. Currency risk refers to the possibility that the foreign currencies in which investments are denominated will fall in relation to the U.S. dollar. (Conversely, foreign currencies could rise in relation to the dollar and benefit the investment return.)

Political, social and economic developments in foreign countries can reduce investment returns. This includes the establishment of foreign exchange controls or other government-imposed investment restrictions.

If you are uncomfortable with the risks associated with the International Equity Index Fund, you may want to consider another MMBB investment option.

The information contained herein is for general purpose only. The use of our information should be based on your due diligence and MMBB will not be liable for any success of failure that is directly or indirectly related to the use of the information contained herein. MMBB assumes no responsibility for errors or omissions in the content herein. The information contained herein does not constitute a complete description of our investment services and it does not constitute any tax, legal, financial, or investment advice. In no event shall, MMBB be liable for any special, direct, indirect, consequential, or incidental damages, or any damages whatsoever, whether in action of contract, negligence, or tort, arising out of or in connection with the use of the information contained herein.

The performance of the International Equity Index Fund for varying lengths of time is reported below. The longer the time period, the more likely it encompasses varying economic and market conditions.

While it is valuable to view investment performance over long-term time horizons, looking at shorter time periods can give one insight as to how returns may fluctuate over shorter time periods. The table below displays calendar year returns.

CALENDAR YEAR RETURNS
2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022
19.99%	20.18%	-6.01%	1.29%	-2.49%	23.85%	-14.36%	24.01%	9.49%	9.26%	-15.90%

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; performance through the current date may be lower or higher than displayed above due to market fluctuations, manager performance or other reasons.

Total Estimated Annual Expenses

TOTAL ESTIMATED FUND EXPENSES

Investment Management Fees

0.04%

MMBB Ministry Support

0.50%

Other Expenses

0.14%

TOTAL ESTIMATED ANNUAL EXPENSES

0.68%

With all MMBB fund offerings, there are no sales charges on purchases, deferred sales charges, short-term or other redemption fees, distribution or 12b-1 fees, dealer commissions or low-balance account service fees.