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Asset Management

Investment policy

The Church Commissioners manage assets worth some £4.4 billion (at the end of 2008). The Church Commissioners' aim is to gain the best return from these assets to help sustain the nationwide ministry of the Church, without undue risk and in line with their ethical investment policy. Their portfolio includes stock market investments and commercial, residential and agricultural properties.

Long-term growth

Bluewater Centre The Church Commissioners aim for a return of at least RPI plus 5% over the long term to cover their spending plans. A balanced investment portfolio is essential to this aim. Their spending plans are reviewed regularly by independent actuaries.

Ethical investment

The Church Commissioners do not invest in arms or pornography or in any company whose main business is in gambling, alcohol, tobacco, or home credit provision. As shareholders they will exercise voting rights and will sometimes raise concerns directly with companies about their business activities and matters of corporate governance. The Commissioners are guided by the Ethical Investment Advisory Group, which also advises the Church of England Pensions Board and the Central Board of Finance.

Stock market

The Church Commissioners maintain a diverse portfolio of shares in UK and overseas industrial, commercial and financial companies, with a smaller proportion in fixed interest securities. The majority of their securities assets are in UK equities. The stock exchange portfolio is externally managed by a number of professional fund managers with a mix of styles and approaches in accordance with mandates determined by the Commissioners. The performance and risk profiles of the fund managers are carefully and regularly monitored.
Please follow these links for the Commissioners' annual report and quarterly newsletters.

Commercial property

The Church Commissioners own offices, shops, factories and warehouses throughout England and Scotland. The offices are mainly in large cities, while retail properties includes shops in city centres, a share in a number of retail warehouse parks and shares in major shopping centres such as the MetroCentre, Gateshead and Bluewater, Kent.

Residential property

The Church Commissioners' Hyde Park residential estate in central London provides a range of housing types with a good standard of local amenities.

Agricultural property

Midlands Farm Property The Church Commissioners own some 112,000 acres of agricultural land. They are conscious of their duty as a long-established landlord and one of the country's largest landowners. Financial criteria play a key role in their decisions about sales and re-lettings, but they recognize the importance of good landlord and tenant relationships.

For general enquiries please contact the Church of England switchboard on (020) 7898 1000.

Further details about the work and history of the Commissioners are available from our Policy Unit: e-mail commissioners.enquiry@c-of-e.org.uk.