We hold a diversified portfolio of investments across a broad range of asset classes, consistent with our ethical guidelines.
We are committed to responsible investment. We think that taking account of environmental, social and governance issues in our investment decisions is an intrinsic part of being a good long-term investor.
We are also committed to engagement with the companies we invest in, and have an in-house team dedicated to this task.
The assets which make up our fund can be grouped under three broad categories.
We hold investments in a variety of equities, both publicly listed and private.
Our public equity portfolio consists of companies listed on stock exchanges. Within our public equities are UK and global portfolios, as well as a defensive equity portfolio expected to generate good relative performance in weak markets and provide attractive returns over the long run.
Our private equity portfolio invests in unlisted companies, and has performed very well in the past few years.
We hold an extensive and diverse investment property portfolio, made up of historic assets and more recent acquisitions.
We are active managers of our estate, holding property across a variety of sectors and locations to ensure the best possible risk / return profile. Our holdings include rural and strategic land, residential, commercial and indirect property.
As part of our commitment to holding a diversified portfolio we have developed an alternatives portfolio, including multi-asset and credit strategies, timberland and infrastructure, which has grown considerably over the past ten years.
Our investment objective is to generate a return of inflation (RPI) +5.0% p.a., on average, over the long term to support the work and mission of the Church of England today and for future generations.
We have managed to match or exceed this objective over 3, 5, 10, 20 and 30 years, and our investment performance continues to be recognised by industry awards.
Meeting or exceeding our performance objective over the long-term allows us to meet our pension obligations and to maintain or increase our support for the Church.
More detailed information on our performance can be found in our latest annual report.