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Thrivent Church Loan and Income Fund

XCLIX | Inception Date: September 28, 2018

Invest for impact with a unique offering from Thrivent Interval Funds, sponsored by Thrivent Financial, a not-for-profit membership organization of Christians.

Thrivent Church Loan and Income Fund allows you to support Christian organizations by investing in mortgage loans made to and mortgage bonds issued by churches and other non-profit organizations with a Christian mission. This Interval Fund also invests in mortgage-backed securities and other debt securities.

The Fund is a newly-organized and non-diversified closed-end interval fund that is intended to be a long-term investment due to its illiquidity and other characteristics. Purchases can be made at any time into the fund, but funds can only be redeemed quarterly through a repurchase offer process (subject to applicable law and approval of the Board of Trustees). An investment in the Fund is not suitable for investors who need certainty about their ability to access all the money they invest in the short term. This Fund is only available through a Financial Professional.

Learn more in the prospectus.

More information coming soon! Watch this page for updates.

Fund Prospectus & Fund Documents Statement of Additional Information Annual Report Semi-Annual Report
Thrivent Church Loan and Income Fund View View View View collapse rowexpand row
Thrivent Church Loan and Income Fund Prospectus & Fund Documents
Thrivent Church Loan and Income Fund Statement of Additional Information
Thrivent Church Loan and Income Fund Annual Report
Thrivent Church Loan and Income Fund Semi-Annual Report


SEC Section 16 Filings: Beneficiary Ownership Reports

 

This fund does not offer daily liquidity.

An interval fund is an unlisted closed-end fund with limited liquidity. Please make sure you understand the risks associated with this structure including:

  • Investors can buy into the fund at any time but can only redeem on specific dates four times per year.
  • At least 5 percent, and no more than 25 percent, of the outstanding shares is expected to be made available for quarterly repurchases.
  • It is possible that a repurchase offer may be oversubscribed, with the result that shareholders may only be able to have a portion of their shares repurchased. There is no assurance that you will be able to tender your shares when or in the amount that you desire.

 

Investment Objective: The Fund seeks to produce income. There can be no guarantee that the Fund will achieve its investment objective or that its investment strategy will be successful.

 

Risk Statement

The Fund invests primarily in church loans and should not be considered a liquid investment. The fund also invests in mortgage-backed securities. The value of the Fund is influenced by factors impacting the overall market, debt securities in particular, and specific issues. The Fund may incur losses due to investments that do not perform as anticipated by the investment adviser.

Church loans are mortgages taken out by non-profit organizations with a Christian mission, or bonds issued by these organizations. They are typically not listed on any national securities exchange and no active trading market exists for them. Church loans are primarily backed by real estate and are vulnerable to factors that affect the real estate market. Default risk is the risk that a borrower will not be able to make principal and interest payments in which case the value of the Fund may be negatively affected. There are many factors specific to churches that may impact a borrower’s finances and its ability to make payments.

The Fund has an interval fund structure, which means that, unlike with an open-ended mutual fund, investors cannot sell their shares daily. The Fund conducts quarterly repurchase offers. It is possible that a repurchase offer may be oversubscribed, and shareholders may only be able to have a portion of their shares repurchased.

Bond prices may decline during periods of rising interest rates. Credit risk is the risk that an issuer of a debt security may not pay its debt. The value of mortgage-backed securities will be influenced by the factors affecting the housing market. In periods when dealer inventories of bonds are low in relation to market size, there is the potential for decreased liquidity and increased price volatility in the fixed income markets. The Fund has received an exemptive order allowing co-investment with other Thrivent accounts, which may give rise to actual or perceived conflicts of interest and subject the Fund to the risk of regulatory changes and regulatory actions. The Fund may require a period of time before it is fully invested in securities that achieve a desired portfolio composition for the Fund’s investment strategy.

These and other risks are described in the Fund’s prospectus.