Eventide Funds has confounded the investment world with its success—and it’s biblically based principles.

Not long ago, when reporters wrote about Robin John, the cofounder of Eventide Asset Management, a subtle snicker rumbled under the surface. One called him “The Believer”; others pointed out the odd language on his Boston-based mutual fund company’s website: business as an “engine of blessing” and “biblically responsible investing.”

Theology as the foundation for picking stocks? Is this guy for real?

Today the murmurs seem to have faded, and for good reason. Since its launch in 2008, Eventide’s flagship mutual fund (a pool of money professionally invested in stocks, bonds, and other securities), the Gilead Fund, has given shareholders a 13.70 percent annualized return as of September 30, 2016, compared to 9.03 percent for the Standard & Poor’s 500. To put that into perspective, an investor who put $10,000 into the fund at its launch would be worth $26,050 today. The Gilead Fund has been covered as a top performer by The New York Times, The Wall Street Journal, and Bloomberg, among other publications. Over the past three years, media attention has helped Eventide explode from $50 million in assets under management to nearly $2 billion.

But there’s more to Robin John than a focus on profit. Challenging Milton Friedman’s declaration that the only social responsibility of business is to increase profits, John says, “Profit is only the byproduct of a job well done.”

John, an evangelical living in Dallas, is a leader in the growing field of biblically responsible investing, which applies Christian theology and social concern to investment analysis. Eventide, founded in 2008, has garnered attention because of both its results and its uniquely faith-filled investment philosophy, driven ultimately by Jesus’ command to love your neighbor as yourself.

His journey to investing, however, was fraught with vocational doubt, uncertainty, and a heart-wrenching journey to India, the land of his birth.

Longing for a Calling

John grew up in a village in southern India, influenced by the faith of his grandparents. “I remember looking out my window as a child and seeing a cemetery,” John told me. “The church needed land to bury the dead, and so my grandfather, poor as he was, donated it.” John learned the Bible originally in his native tongue of Malayalam and saw a sacrificial faith lived out at an early age.

When John was seven, his family moved to Medford, Massachusetts, following his uncle, an international pastor at Tremont Temple Baptist Church in Boston. “We moved into a community where I was one of the only non-Italian and non-Irish students in class,” John says. Due to an error on his Social Security card, his last name became an abbreviated version of his middle name, Cheriakalath, while he was in school. It was nearly impossible for his Anglo peers to pronounce, just one factor that made growing up an Indian immigrant in American schools tough. So he studied hard and graduated in the top 1 percent of his high school class.

A few years later, John graduated with a degree in economics from Tufts University and took a job at a large bank. “I would pray for a calling to go into ministry,” John recalls. “But I didn’t hear from God. So, because I didn’t feel like I had a calling, I said, ‘I guess I’ll just make money and support those who do.’ ”

One of his first assignments took him from Boston back to Pune, India, near Bombay, to train new employees.

One day, staying in the guest house of an Indian firm, he asked the housekeepers where they slept. He discovered that in a four-bedroom house, they slept in a closet behind the kitchen on the concrete floor, with no mat or rags for a pillow. Outraged, he notified his company of the housekeepers’ living conditions. But the two men begged him not to pursue the matter or they would lose their jobs—and return to the slums.

When John returned to the United States, the air of his home office was heavy with tension. Outsourcing to India meant job cuts for American workers. Now coworkers in Boston came to John with their own plea: “If my job is going to India, you’ve got to let me know. I’ve got a family.”

“I started realizing that work is not just work,” John says. “People’s lives are being impacted.”

In the years that followed, he vocationally wandered from a bank to an accounting firm to part-time classes at Gordon-Conwell Theological Seminary, where he still longed for “a call to ministry.”

While in Boston, John got in touch with a friend from high school, Finny Kuruvilla. At the time, Kuruvilla was simultaneously pursuing an MD from Harvard Medical School, a PhD in chemistry and chemical biology from Harvard University, and a master’s degree in electrical engineering and computer science from MIT. (“And just for fun, Finny taught biblical Greek and Hebrew at his church.”)

John asked Kuruvilla to pray with him, hoping for a sense of God’s call. They prayed once a week for six months. “If God wants me to go into full-time ministry, that’s what I’ll do,” John said, uncertain about working in ministry or business. Together they started a house church and were joined by a Nigerian widow, Congolese immigrants, and a few Harvard students eager to serve their community.

Soon after, Tim Weinhold, an entrepreneur and Harvard alumnus, visited the house church. Getting acquainted after the service, Kuruvilla mentioned that he and some friends were thinking of starting a Christian mutual fund.

“I know what a mutual fund is,” said a skeptical Weinhold, who would eventually become director of faith and business for Eventide. “And I know what a Christian is. Explain to me what a Christian mutual fund is.”

After prayer and discussion, John and Kuruvilla cofounded Eventide Asset Management with the vision of “Investing that makes the world rejoice.”

As the Great Recession began, the sun was setting on John’s longing for a call to ministry. In response to John’s question of whether to go into business or ministry, God slowly revealed his clear answer: “Both.”

From Plunder to Blessing

“I’m confused,” I confess on stage, as I interview John before an eager crowd at The Commons at Champa, a shared workspace in Denver. “What’s the difference between socially responsible investing, values-based investing, and biblically responsible investing?”

In the audience is a young couple, eagerly listening for advice on how to begin their meager retirement savings; a pastor turned investment adviser, fearing he’s failed now that he’s no longer a minister; and a bleary-eyed investment banker, tie-loosened and over-tired, wondering if he’s made a vocational mistake.

eventide-team-ct Conventional fund managers look for financial strengths in making investment decisions, John says. The problem is that profitability is a lagging indicator. It tells investors more about the past than the future. Moreover, it doesn’t show how a business made that money, whether through quality products or oppressive business practices.

Conversely, moral or ethical fund managers screen out the “vice stocks”—pornography, tobacco, weapons, or abortion—and then look for financial strengths. “This is the typical approach of what we might label biblically responsible investing 1.0. It’s a good start,” John says, “but it doesn’t go far enough, because business can harm not just through bad products but through bad practices.” For example, payday loan companies can trap the poor in a cycle of debt, and auto title loans can charge effective rates as high as 500 percent.

The biblical word for these business practices is plunder, says John, who cites biblical passages that emphasize God’s concern for the poor: “ ‘Because the poor are plundered and the needy groan, I will now arise,’ says the Lord. ‘I will protect them from those who malign them’ ” (Ps. 12:5).

But instead of merely avoiding companies that plunder or extract value from a community, John says, “we look for companies with an extraordinary ability to innovate and create value for all stakeholders—customers, employees, suppliers, host communities, the natural environment, and society.” Each of these six stakeholders, Eventide believes, is a primary neighbor that businesses are called to serve. John dubs this positive vision “biblically responsible investing 2.0.”

The Eventide philosophy, or Eventide Business 360, is rooted in the biblical understanding that God’s intent for business, investing, and all vocations is to serve and, in turn, bless humankind. Weinhold, Eventide’s director of faith and business, points to verses like Deuteronomy 8:18—“But remember the Lord your God, for it is he who gives you the ability to produce wealth, and so confirms his covenant, which he swore to your ancestors, as it is today”—to show that business is uniquely able to create wealth and provide for material needs.

Business does this, according to Weinhold, by creating products that solve the material challenges of human existence and by making a profit, thereby enlarging human wealth to make those products affordable and accessible.

When deciding what businesses to invest in, Eventide considers factors often outside of typical investment analysis such as employee satisfaction, a genuine innovation in the field of investing. They use websites with company reviews shared by employees, as well as other sources, to evaluate both how well a business is “loving” its employees and also its long-term prospects for profitability.

In the days before the Great Recession, John says, “we saw the subprime mortgage industry was exploiting its customers. We didn’t invest there.” Avoiding dishonest practices, John says, is one discipline that can help the firm sidestep the kinds of activities that may be profitable—at least for a time—but do long-term harm.

Like the vast majority of mutual fund investors, most of Eventide’s 133,000 clients are average people saving for retirement. The minimum investment in the Gilead Fund is only $1,000 (or, with an automatic investment plan, $100). “We wanted anybody to be able to invest with us,” says John.

Eventide has performed well for their shareholders, but investing is risky business and can suffer downturns. Even in down markets, though, John reminds his team of their true purpose. Gilead, the name he and Kuruvilla gave their first fund, means “mountain of witness” or “hill of testimony.”

John remembers praying for a calling in 2008, descending into his unfinished basement to “ask God to use me for his glory.” In 2015, Eventide gave away more than $3.5 million to charity, directed almost $2 billion toward businesses they believe improve people’s lives, and influenced business leaders and financial advisors across the United States in how they think about the purpose of their work.

John found his calling in an unlikely place. An investor and entrepreneur, John has embraced a higher view of business, often quoted by Weinhold: “Business is God’s intended partner in his great work as Provider for all of humankind.”

This article first appeared in the December 2016 issue of Christianity Today.

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Business Economy Work

We All Proselytize

December 23, 2016

“Kelly, what does proselytize mean?”

“Evangelize, but with negative connotations.”

I had to ask my wife last Sunday night because the word came up in a discussion with a local Christian entrepreneur.

I’ll paraphrase what he said: “In my company, we believe in the power of entrepreneurship to create flourishing communities. And I’m very open about my Christian faith with my employees when it comes up. But I would never engage in proselytization.”

When he said it, I mostly agreed. The word just sounds like rude, arm-twisting – or possibly even an illegal activity. Encroaching on other people’s faith makes many of us feel uncomfortable at worst, and often offended. It’s usually a good way to seriously tick off your co-workers.

But what does “proselytize” even mean? I looked it up in the dictionary and here’s what I got: “pros·e·lyt·ize ˈpräs(ə)ləˌtīz/verb: convert or attempt to convert (someone) from one religion, belief, or opinion to another.”

Well, that’s interesting. This word simply means trying to change somebody’s beliefs or opinions from one view to another.

When I read this, I had to ask myself: aren’t all of us constantly trying to convert someone from one set of beliefs to another? I mean, if we’re honest, isn’t this what is constantly happening in advertising, media, and even conversations with friends?

For example, Leonardo DiCaprio’s new documentary Before the Flood is clearly trying to influence people to care deeply about climate change. And he’s not apologizing for that. He believes deeply in the catastrophic consequences of inaction for our planet. And he wants the apathetic or the climate change skeptic to be converted from one belief to another.

Or take actress and activist Emma Watson. She recently went to a train station in England and gave away over 100 copies of Maya Angelou’s “Mom & Me & Mom.” As a “book fairy” for the day, she also included a short note in the book, encouraging readers to pass it on. Her motivation was to get as many people as possible to be reading about inequality. Her campaigns for the UN have advocated for feminism, the protecting of young girls against child marriage, and fighting a rape culture. A noble woman, to be sure. And she’s not apologizing either that she’s attempting to convert you to her views.

Even thinking more broadly than Hollywood stars, isn’t the act of proselytization simply a natural, human act? When you receive an email from Costco, aren’t they trying to convince us to buy their products? Weren’t hundreds of millions of dollars spent on political advertising trying to “convert us” to vote for a particular candidate? Doesn’t my daughter try to change my beliefs when she asks for a cookie before bed?

I’m shooting beyond my pay grade here, but it seems to me that a primary use of all human language is to influence people to adopt your beliefs. Some philosophers have even postulated that in all human relationships we attempt to exert power or influence on others. To Daniel Pink’s point, to sell is human.

But can we at least admit that we’re all trying to convert others to our beliefs? Even those who say it’s wrong to convert others to your beliefs, ironically, are trying to convert you to that belief!

But back to the specific topic at hand: sharing about your Christian beliefs in the workplace. A few things to note for my fellow Christians:

We should never try to coerce others. People in positions of leadership need to be careful about sharing their faith with employees simply because it can be construed as “to be accepted around here, you need to be a Christian.” That’s no good. Belief should never be a pre-condition to acceptance. The truth is, God doesn’t coerce us, but is patient with us and allows for us to respond freely to him. Peter writes, “The Lord is not slow in keeping his promise, as some understand slowness. Instead he is patient with you, not wanting anyone to perish, but everyone to come to repentance.” If God gives us free will and time to respond, should we not do the same for others?

Let’s not be angry when faith comes up. I’ve seen many Christians get ticked off at the topic of faith in the workplace. They cite their first amendment rights to freedom of religion — while about to bust a vein in their necks. Again, no need for this to become a political fight. If it does, it shows that the real issue at stake is a political issue – not theological.

Gentleness and respect should adorn our faith conversations with co-workers. “Always be prepared to give an answer to everyone who asks you to give the reason for the hope that you have. But do this with gentleness and respect,” says Peter. I’m afraid to say that this has not always been the case for people of Christian faith in the public arena (I’m practicing the art of understatement). Instead humility, openness, and respect – along with a robust adherence to the truth we profess – ought to shape our interactions with those of other faiths.

To be honest, I’ve never liked the word proselytization. I won’t be using it anytime soon. But it is worth admitting that all people proselytize. Including Christians.

“Evangelize,” is a much better word. The word comes from the Greek euaggellion, meaning simply “good news.” The word is equally noxious in our secular culture, but it shouldn’t be. Why not? Let me tell a brief story:

For the past two weeks, as I have been driving to work, I’ve listened to the Christmas song, “Mary Did You Know?” After the tears welled up in my eyes for a week straight, I decided to commit the lyrics to memory so I could sing it to my daughters before they go to bed.

Mary did you know that your baby boy would one day walk on water?
Mary did you know that your baby boy would save our sons and daughters?
Did you know that your baby boy has come to make you new?
This child that you delivered, will soon deliver you.

Mary did you know that your baby boy will give sight to a blind man?
Mary did you know that your baby boy will calm the storm with his hand?
Did you know that your baby boy has walked where angels trod?
When you kiss your little baby, you kiss the face of God.

The blind will see, the deaf will hear, the dead will live again.
The lame will leap, the dumb will speak, the praises of the Lamb.

Mary did you know that your baby boy is Lord of all creation?
Mary did you know that your baby boy would one day rule the nations?
Did you know that your baby boy is heaven’s Perfect Lamb?
That sleeping child you’re holding is the Great I Am.

This is the message I have believed. And this is the one I unashamedly share – with kids, family, co-workers, neighbors, and anybody else who will listen. And when I share my own most-precious good news with the world, I join the rest of the world world that engages in sharing their stories of good news as well…

Last night, I finished singing it to Sierra, my oldest daughter, before we fell asleep. As we both looked at the Christmas tree night light, she said to me with a little grin as I finished the song, “I like that song, daddy.”

“I do too, my love.”

As we prayed together, I thanked God for that person who first “proselytized” me.

This post first appeared at denverinstitute.org.

Business Economy Work

Nourishing the World: Spending an Evening with Dan Dye, CEO of Ardent Mills

December 14, 2016

As we walked into the kitchen, our senses came alive: the smell of freshly baked bread, the shine of stainless steel appliances, the smile of Chef Daniel Marciani, and the sight of risotto, chocolate quinoa desserts and caramelized spread. We felt like we had just walked into Babette’s Feast.

The food was the unexpected capstone of an evening the 5280 Fellows spent with Dan Dye, CEO of Ardent Mills, the largest flour producer in the country. Ardent Mills, a new company that was spun off from ConAgra, CHS, and Cargill just over two and a half years ago, has 42 production facilities in the US, over 2,000 employees, and – get this – serves an estimated 100 million per day with their products. Chances are, if you ate any kind of bread product today, you are being nourished by Ardent Mills.

As we gathered around the conference room to hear Dan’s story, he candidly shared about life as the leader of a $4-billion-year company: the advent of his career at Cargill, the transition to leadership over a team of commodities traders in Winnipeg, and the values he uses as guideposts for everything he does.

Values, he said, are at the core of his leadership. Trust. Serving. Simplicity. Safety. For Dye, they’re more than words: they form the heart of the company he leads – and while not explicitly or exclusively Christian, each of them are endowed with deep spiritual value. “Though I don’t always say to people, ‘These are biblical values,’ to me each value is Biblically rooted, and the Bible informs me on how to lead a company, and how I can help best serve both customers and employees,” said Dye.

Dye spoke about discerning his calling and new job opportunities alongside his wife, Alea; how to build a strong leadership team; the challenges of work-life choices as he took different roles throughout his career. He shared about being a strong emotional presence in times of crisis, especially during a time early in his career when, tragically, two employees died during an accident. “It was the hardest time of my career – and one of the hardest times of my life. The value of safety isn’t just a word on the wall – I believe in it with every fiber of my being.”

Developing a strong, values-based culture is central to Dye’s leadership. He believes values allow them to better serve their customers, but they also create a work-environment that blesses his employees. The five principles of leadership at Ardent Mills are:

Live Our Values: Trust, Serving, Simplicity, Serving
Others Focused vs. Self-Focused
Clear the Noise
Relentlessly Curious
We Will Win – The Right Way

The final value used to be just “We Will Win,” believing that profit is inherently good as it creates the opportunity to serve more customers and hire more employees. But he added “The Right Way” after observing the Volkswagen emissions scandal in 2015, in which the German automaker intentionally mislead environmental authorities to pass emissions standards. To Dye, doing business “the right way” means profit must be made ethically, upholding the highest standards of integrity.

Banks Benitez, 5280 Fellow and Vice President of Global Expansion at the Unreasonable Institute, shared a brief note with me after the Community & Culture gathering:

“I just wanted to drop you a brief note thanking you for tonight. It broadened my perspective, humanized a big industry that I know nothing about, connected us to a leader who is putting Christ in that center circle, and sparked many ideas for me in my own career and role. One thing that Dan mentioned, which I really liked, was about getting rid of the noise and bringing clarity to people. I know that’s something I struggle with in my role with our team…It was such an amazing night and I kept thinking, “this is way beyond what I expected from the fellowship.”

Dye also shared about the centrality of his faith to his work. “I remember when I was a kid, my dad would take me aside before a basketball game, and give me some clear advice: keep your cool, do your best, honor God. I’ve always kept that advice close to my heart.” Through both his father and early career mentors at Cargill, who encouraged him to keep Christ at the center of his life, role models profoundly impacted Dye’s career trajectory.

The Ardent Mills vision of “Nourishing What’s Next” has special meaning for Dye. Bread is a central metaphor in the Scriptures: Jesus is the bread of life; the kingdom of God is like yeast that works its way through dough; Jesus commands his followers to remember his death through drinking of wine and eating bread.

As Dan Dye leads a company that is nourishing the world – quite literally – he also strives to nourish the spirits of the customers, employees and communities Ardent Mills serves each day.

This article first appeared on the Theology of Business Blog at denverinstitute.org.