CBIS : Board Chairs Announce Consolidation of RCT and CUIT Trusts

Board Chairs Announce Consolidation of RCT and CUIT Trusts

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Michael VanDam
Director of Corporate Communications
312-803-6440
mvandam@cbisonline.com

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CUIT and RCT Trusts to Consolidate in 2012

For thirty years, CBIS has served the Catholic community under the guidance and care of two trusts, the Catholic United Investment Trust ("CUIT") and the Religious Communities Trust ("RCT"). While this structure has served CBIS and our participants well, the boards of the two trusts have recently come together to agree on a restructuring that they believe will better serve participant needs as we move forward into our next thirty years. At the beginning of 2012, the two trusts will begin the process of consolidating into a single trust, offering our participants a unified voice in guiding and protecting their investments.

For our participants, the most important thing to know is that this change will have no impact on their investments. The managers, expenses, investment objectives and performance history of all RCT and CUIT Funds will not change. In addition, no action is required on behalf of participants, and the transaction itself will be completely transparent. We anticipate that the consolidation will be complete by the second quarter of 2012.

CBIS and the CUIT and RCT boards believe that this change will position CBIS and our Funds to serve the Catholic institutional market more effectively as we move into our next thirty years. For our participants, the consolidation will offer substantial benefits going forward, including:

The consolidated Trust will be governed by a single Board of Trustees, offering our participants a single body representing their interests and ensuring that the legal structures underpinning our Funds are uniform across all Funds.
The new structure will facilitate the introduction of new products that may not have been possible under the old structure and could speed the process of introducing those products.
Over time, the new structure should provide additional efficiencies and economies of scale, potentially reducing costs for our participants.

While we believe that this new structure will provide us with the agility and efficiency needed to move forward, we do this with a deep appreciation of the contributions of RCT and CUIT. The hard work and dedication of current and former RCT and CUIT Trustees has allowed a thirty-year-old dream of becoming the preeminent provider of socially responsible investment solutions for Catholic organizations to become a reality. We expect the next thirty years to be equally fulfilling.

Download the New CUIT Trust Agreement here.