UNITED STATES
National Catholic Reporter
Nicole Sotelo | Dec. 8, 2016
Have you heard of “Battlefield Hardline”? It is a video game in which players pretend to be police who shoot people in urban areas. Common Sense Media named it among the top 10 most violent video games of 2015, the same year in which public awareness was rising about police brutality. It is also the same year that the video game’s maker showed up as a top stock holding in a new Knights of Columbus mutual fund; a fund that is now being offered to employees of multiple Catholic institutions across the United States.
In March 2015, Knights officials announced the creation of a new subsidiary called the Knights of Columbus Asset Advisors. This new firm offers investment strategies tailored to Catholic institutions. As of the most recent annual report, there were 50 such clients ranging from dioceses to religious orders. In turn, these institutions may then offer Knights mutual funds to their employees as part of a retirement plan. In my own Chicago archdiocese, Catholic employees were given the option to invest in three Knights mutual funds with combined investments totaling more than $83 million as of April 2016.
While church workers may think they are investing in their own retirement, they may be investing against their best interest. There are three things church workers should know before they invest with the Knights of Columbus.
Knights and women
The Knights of Columbus Asset Advisors’ website notes that the profits go back to the Knights organization, “a portion of which further funds Catholic initiatives.” After repeated attempts to talk to the Knights Communications Department about where the profits went and what initiatives were being funded, no response was given by the deadline. Church workers deserve to know that Knights officials have repeatedly used the organization’s resources to back political causes that go against church worker interests, including those of women working for Catholic institutions.
In recent years the organization has donated significant financial backing out of its “charitable contributions” to the Becket Fund for Religious Liberty, a Washington, D.C., law firm that has been arguing the case against equal access to contraception for women who work at Catholic institutions such as hospitals and universities. The Knights have also demonstrated that they agree with denying women church workers equal access, something that was a guarantee for other women under the Affordable Care Act. Knights officials also submitted an amicus brief that sided against women’s fair access to contraception. With 80 percent of Catholic lay ministers being women, they deserve to know that the profits being made off their retirement investments may go toward political causes that don’t support women’s health.
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