Longer-term investments may not provide the same day to day stability of value as cash deposits but they can provide an income flow that is higher, more stable in the longer term and in some cases, give growth in the capital invested. There is a wide range of long-term funds available from a range of alternative providers, each with different characteristics and so each suited to different needs.
The DBF is not authorised to recommend any particular adviser, or investment manager, but does strongly recommend that PCCs only seek advice from investment managers or advisers regulated by the Financial Conduct Authority. Concerning Parochial Trusts and the differing responsibilities of the managing trustees (usually the PCC) and custodian trustees (DBF) please refer to this briefing note: Investment of Custodian Trust funds
When approaching prospective investment managers, it is important for a PCC to be clear about what they need their longer term investments to achieve: whether that is a higher income, income growth for the future or a rise over time in capital values.
Those wishing to invest ethically can find guidance from the Church of England’s Ethical Investment Advisory Group (EIAG) at:
The EIAG also has a brief to communicate its work to the wider church which it does through a range of publications, and by offering ethical investment advice to parishes, dioceses, cathedrals and other Church of England agencies direct.
PCCs may like to know that CCLA (Churches Charities and Local Authorities) provides a free service (general guidance only) that is available without obligation to all PCCs. Please note that changing regulation (the Retail Distribution Review, in particular) is impacting CCLA’s freedom to give specific advice, as distinct from general guidance. As a regulated individual working for CCLA, Bruce Crawford can give general guidance without making a charge. If he is invited to give a specific personalised recommendation/response then this constitutes, under the relevant regulations, as advice for which CCLA would need to charge a fee. CCLA would also, in the case of giving personalised advice, require the completion of a number of forms and be supplied with background financial data with which they could use to verify that any advice they subsequently give is suitable.
Bruce Crawford, CCLA Investment Management Ltd,
Customer Services, Senator House, 85 Queen Victoria Street, London EC4V 4ET
020 7489 6094 Email Bruce Crawford
Further guidance, from the Archbishops’ Council, Parish Resources website: