#SYNOD2017
Managing money for mission

Managing money for mission

UCA Funds Management has contributed $55 million to the synod’s Mission Support Fund since 1995, an average annual return of about $2.5 million.

During that time it has managed bequests, the proceeds of property sales with the investments supporting missional activities, bonds on behalf of aged care residents and the savings of church members.

In presenting Funds Management’s report to synod, its Chief Executive Officer Michael Walsh said the business was clearly part of the synod’s mission.

In 2016 Funds Management’s operating performance resulted in a surplus of $3.3 million, which funded grants of $3.03 million.
More than $46 million was distributed to investors in 2016.

Mr Walsh said Funds Management was committed to continuing to grow its funds under management – which now stood at $1.2 billion, up more than 40 per cent since 2013 – and was positioning itself to the broader church and other faith-based organisations.

He said Funds Management’s ethical investment policy was not simply a policy of Finds Management but, more importantly, a policy of the synod.

Over recent years Funds Management has grown its ethical investments by more than 20 per cent against a mandated minimum of 10 per cent.

Mr Walsh said it was an active voice in the fund management community encouraging ethical investments.

Mr Walsh said Funds Management had also campaigned against the rising issue of online gambling, particularly in encouraging banks to block credit cards from being used to access online gambling sites.