New Covenant Funds

Fund Complex: New Covenant Funds

Management Company: SEI Investments Management Corporation

Funds Affected: New Covenant Balanced Growth Fund, New Covenant Balanced Income Fund, New Covenant Growth Fund and New Covenant Income Fund

Sustainable Investing Strategy: Values-Based Investing, Exclusions

Summary: The funds make investment decisions consistent with social-witness principles approved by the General Assembly of the Presbyterian Church (U.S.A.). The funds do not invest in those companies involved in the military and tobacco industries that are prohibited for investment in accordance with the policies that are set by the General Assembly of the Presbyterian Church (U.S.A.) as brought forth by the Mission Responsibility Through investment Committee Guidelines. The funds also does not invest in certain other companies that have derived 25% or more of the company’s revenues from alcohol, gambling and tobacco, and do not invest in certain companies in the weapons industry. In addition, the Growth Fund’s portfolio may be constructed to favor securities of companies that are more highly ranked with respect to environmental, social and governance criteria.