Churches - Fixed Interest Securities Fund

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Church of England - Fixed Interest Securities Fund

Why invest?

  • Long-term investment focused on income

  • Gross income paid quarterly

  • Usually held with other investments such as equities and cash to give a broad spread of assets and achieve combined income and growth objectives

Since its launch in 1977, the CBF Church of England Fixed Interest Securities Fund has been compared with the WM Universe (UK bonds) benchmark. We are keen to improve our client reporting by making it timelier and more frequent, and unfortunately the WM Universe results are only published quarterly and many weeks after the end of the quarter.

The CBF Funds Trustees have therefore decided to change the Fund's benchmark to a customised benchmark based on market indices with effect from 1 March 2010. The new benchmark is a weighted average of the Barclays Capital UK Government (Gilt) Index (80%) and the Barclays Capital Sterling Aggregate 100MM Bond Index (20%), or equivalents.

The performance of this customised benchmark is available daily. The long term historic performance of the new benchmark is very similar to that of the WM Universe and therefore in keeping with client expectations. In particular, during the 18 years from 1991 to 2008 the customised benchmark achieved an annualised total return of 8.72%, compared with 8.64% for the current benchmark.

 

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