Friends Fiduciary established the Pooled Life Income Fund Common Fund as a cost-efficient vehicle to invest and administer pooled life income funds. The Common Fund is available to Quaker organizations with existing PLIFs. Plan assets transferred to Friends Fiduciary are invested and administered as a separate plan within the larger Fund. The Common Fund’s lower expenses help to fulfill two goals: 1) increase the income to the life income beneficiaries, and 2) increase the remainder left to the designated Quaker organization.

Investment Management

• Balanced portfolio’s asset allocation is weighted toward fixed income
• Fixed income allocation (55%) uses one domestic bond manager with a core approach
• Equity allocation (45%) uses two domestic managers for appropriate diversification
• Using domestic managers with low-turnover strategies helps reduce internal costs within the fund

Administration

Friends Fiduciary contracts with a highly experienced, low-cost administrator to provide quarterly income payments and Statements of Condition for each plan. Administrative costs are paid by the individual plan from the assets under management. Our management fee is currently 0.25% (25 bps), prorated and charged on a monthly basis.

Cost Structure

Annual average costs (2007-2009) for the individual PLIF funds (based on the average of beginning and ending plan values) were as follows:

If your organization is interested in transferring a PLIF plan to the Common Fund please contact Connie Brookes, our Executive Director.