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Investment Funds Description P Series of the Wespath Funds Trust

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Investment Funds Description P Series of the Wespath Funds Trust ` AS OF JANUARY 1, 2021 Investment Funds Description P Series of the Wespath Funds Trust a general agency of The United Methodist Church INVESTMENT FUNDS DESCRIPTION P Series of the Wespath Funds Trust As of January 1, 2021 (Containing performance and other information as of December 31, 2020, unless otherwise noted) The information contained in this Investment Funds Description – P Series is intended for (1) organizations that are controlled by or associated with The United Methodist Church (the “Church”) that elect to or are required to sponsor retirement and/or health and welfare benefit plans and programs for clergy and lay employees of a church or a tax-exempt convention or association of churches consistent with Section 414(e) of the Internal Revenue Code (each a “Church Plan”) administered by the General Board of Pension and Health Benefits of The United Methodist Church, Incorporated in Illinois, a general agency of the Church doing business under the assumed name of Wespath Benefits and Investments (“WBI”) (such Church Plans hereafter referred to as the “Benefit Plans”) for the benefit of their employees (such organizations hereafter referred to as the “Plan Sponsors”); (2) the Benefit Plans; (3) individuals who are eligible to participate in the Benefit Plans, as a result of their employment (or former employment) with a Plan Sponsor, or beneficiaries of such individuals (“Participants”); and (4) other investors approved by the Fund Manager under exceptional circumstances. Plan Sponsors, Benefit Plans, Participants and other investors approved by the Fund Manager under exceptional circumstances are collectively referred to herein as “Eligible Investors.” All such Eligible Investors shall qualify as permissible investors in a fund excepted from the definition of “investment company” under Section 3(c)(14) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the accuracy or adequacy of this Investment Funds Description – P Series. Any representation to the contrary is a criminal offense. The Investment Funds Description – P Series, together with any Supplements thereto, represent the full disclosure with respect to the Funds and should be read together before investing. Neither WBI nor UMC Benefit Board, Inc., an Illinois not for profit corporation (the “Fund Manager”), are registered as investment advisers under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), or under any comparable local, state or federal law or statute. Neither the Wespath Funds Trust nor any Fund is registered as an investment company under the 1940 Act in reliance upon exclusions from the definition of an investment company under the 1940 Act. WBI, the Fund Manager, the Wespath Funds Trust and the Funds are not subject to registration, regulation, or reporting under the 1940 Act, the Securities Act of 1933, as amended (the “1933 Act”), the Securities Exchange Act of 1934, as amended, the Advisers Act or any state securities laws. Investors in the Funds, therefore, will not be afforded the protections of provisions of those laws and related regulations. The information presented herein has been developed internally by WBI and/or obtained from sources believed to be reliable; however, neither WBI, the Fund Manager, Wespath Funds Trust nor any Fund guarantees the accuracy, adequacy or completeness of such information. Information presented is subject to change continually and without notice of any kind and may no longer be true after the date indicated. Any forward-looking statements speak only as of the date they are made, and neither WBI, the Fund Manager, Wespath Funds Trust nor any Fund assumes any duty to and does not undertake to update forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. This Investment Funds Description – P Series is dated January 1, 2021 and contains performance and other information as of December 31, 2020, unless otherwise noted. Investment Funds Description – P Series ii TABLE OF CONTENTS OVERVIEW OF THE FUNDS ................................................................................................................................................... 1 PRINCIPAL INVESTMENT STRATEGIES .................................................................................................................................. 4 INVESTMENT POLICY .............................................................................................................................................................. 4 BENCHMARK AND UNIVERSE.................................................................................................................................................... 4 BALANCED FUND ................................................................................................................................................................. 5 MULTIPLE ASSET FUND – P SERIES ............................................................................................................................................ 5 Overview ..................................................................................................................................................................... 5 Investment and Performance Objectives ....................................................................................................................... 5 Principal Investment Strategies .................................................................................................................................... 5 Principal Investment Risks ............................................................................................................................................ 6 Fees and Expenses ....................................................................................................................................................... 6 Fund Turnover.............................................................................................................................................................. 8 Fund Performance........................................................................................................................................................ 8 Management ............................................................................................................................................................. 10 Disclosure of Portfolio Holdings .................................................................................................................................. 10 EQUITY FUNDS................................................................................................................................................................... 11 INTERNATIONAL EQUITY FUND – P SERIES ................................................................................................................................. 11 Overview ................................................................................................................................................................... 11 Investment and Performance Objectives ..................................................................................................................... 11 Principal Investment Strategies .................................................................................................................................. 11 Principal Investment Risks .......................................................................................................................................... 12 Fees and Expenses ..................................................................................................................................................... 12 Fund Turnover............................................................................................................................................................ 14 Fund Performance...................................................................................................................................................... 14 Management ............................................................................................................................................................. 15 Disclosure of Portfolio Holdings .................................................................................................................................. 15 U.S. EQUITY FUND – P SERIES ............................................................................................................................................... 16 Overview ................................................................................................................................................................... 16 Investment and Performance Objectives ..................................................................................................................... 16 Principal Investment Strategies .................................................................................................................................. 16 Principal Investment Risks .......................................................................................................................................... 17 Fees and Expenses ....................................................................................................................................................
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