The Church Commissioners have announced their results for 2009 under this headline: “Church Commissioners’ 2009 results confirm long-term growth – level of support to the Church to be maintained”. The full announcement can be read in this press release and here are the first few paragraphs.
The Church Commissioners achieved a 15.6 per cent return on their investments during 2009. Results announced today show that the fund has now outperformed its comparator group over the last year as well as over the past five, 10 and 20 years.
Today’s results mean that the Commissioners’ current level of support to the Church – including increased pensions costs – can be maintained, in cash terms, for a further three-year period, from 2011 to 2013.
The Commissioners’ asset value has grown to £4.8 billion (from £4.4 billion at December 31, 2008), and the fund has been able to distribute £31 million more each year to the Church than if the investments had performed only at the industry average over the last ten years. The 15.6 per cent return was achieved against a comparator performance of 15.1 per cent for 2009.
In the last five years, the Commissioners achieved average returns of 6.6 per cent per year, against the comparator of 6.2 per cent. Over the past 10 years, the Commissioners’ total returns averaged 5.1 per cent per year, against the comparator group’s 3.1 per cent. Over the past 20 years, the Commissioners outperformed the comparator group with an average annual return of 7.8 per cent against 7.7 per cent.
There are no links in the press release and I have been unable to find an online copy of the full Commissioners’ report for 2009.