Church of England Pensions Board reports 13% return on assets for 2014

The Church of England Pensions Board reports that the value of its assets increased in value by 13 per cent over 2014, with a year end valuation of $2.83 billion (£1.82 billion).

The Church of England Pensions Board reports that the value of its assets increased in value by 13 per cent over 2014, with a year end valuation of $2.83 billion (£1.82 billion).

 

“A common theme of the board’s work in 2014 was ‘taking risk off the table’,” wrote the chairman of the Pensions Board, Jonathan Spencer, in the forward to the annual report published on 7 July 2015.

 

“We have taken decisions to create a more stable environment for our two largest pension schemes, as well as ensuring that our retirement housing provision will be sustainable for future generations.”

 

The majority of the board’s assets were placed in two investment pools: an income pool with £1.39 billion of assets and a liability-matching pool with £287 million in assets.

 

The income pool at year’s end reported an 8.5 per cent return, with the top investments global equities (58 per cent), UK equities (19 per cent) and real estate (10 per cent).

 

The liability-matching portfolio at year’s end reported an 18.1 per cent return, with 77 per cent of assets in index linked government bonds and 23 per cent invested in corporate bonds.

 

In 2015 the pensions fund board hopes to “investigate increasing our investment in illiquid asset classes” for the income pool.

The Pensions Fund Board administers the Church of England’s retirement programs for its clergy and lay employees: the Church of England Funded Pensions Scheme, Clergy (Widows & Dependents) Pension Fund, Church Workers Pension Fund and Church Administrators Pension Fund.

 

Church of England Pensions Board Review 2014

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