Church of England Report Shows Investment Returns Increase

On 29th March, the Church of England released a press release to take a glance at the Church Commissioners Report 2004, which has revealed a return of 13.6 percent on their investments last year. This figure is much higher than the ten-year average of the Commissioners’ total return on investments 11.1 percent per year, as well as the 7.9 percent per year for the industry benchmark. Therefore, the Church is now celebrating its success in choosing a well-balanced investment portfolio.

According to the report, as a result of the above-average performance over the last ten years, the Commissioners’ asset value is £1.3 billion higher at £4.3 billion, and the funds available to distribute to the Church are now £37 million more each year than if the investments had performed only at the industry average over the last ten years.

Andrew Brown, Secretary of the Church Commissioners, stated in the press release, "The portfolio’s sound long-term performance reflects both our well-balanced portfolio with its mix of assets and the strength of the Commissioners’ stock selection."

"The Church Commissioners exist to serve the Church and we are pleased that the good performance enables us to fulfil our responsibilities and make a contribution to the work of every diocese in the Church of England."

The strong performance of the Church Commissioners allows it to provide significant support for the Church's ministry. The Commissioners' total expenditure in 2004 was £163.8 million compared to £164.0 million in 2003.

Among the main items the Commissioners spent on, expenditure for parish ministry, mainly payments to dioceses for clergy stipends has been increased from £26.4 million in 2003 to £27.1 million in 2004. For bishops' stipends, office and working costs, and housing, it has been raised from £17.8 million to £18.5 million last year.

The Church Commissioners manage assets worth more than £4 billion on behalf of the Church of England. The portfolio of assets includes stock market investments, and commercial, residential and rural property investments. Its mission is to support the Church of England's ministry by meeting the pension commitments as well as providing the maximum sustainable funding for other purposes such as support for the work of bishops, cathedrals and parish ministry.

The Annual Report and Accounts of the Church Commissioners are expected to be approved by their Board of Governors in April, and will be published at that time.