Investments with the Trustees
Parishes in the Anglican Diocese of Tasmania and Anglican agencies and organisations in Tasmania may be eligible to invest with the Trustees of the Diocese of Tasmania (ABN: 28 082 125 921, incorporated by the Church of England Constitution Act 1899 and continued under the Anglican Church of Australia Constitution Act 1973). Investments will not be accepted from individuals.
The investment pool is used to support the charitable purposes of the Anglican Church in Tasmania by providing distributions from investments to support the ministry and mission of the church.
The minimum initial investment is $1000. Any amount of funds can be added to existing investments.
The Trustees invest funds in a managed investment pool, which is then invested in a range of income-producing assets including deposits with approved financial institutions, managed funds, real property, debentures and securities. The day to day management of these assets rests with professional investment managers and property managers.
The Trustees work to preserve the asset base for investors while targeting a return that enables them to pay interest to depositors.
Interest is calculated daily and paid quarterly. The annual interest rate is currently 3.5%.
There is no fixed term for investments, but funds need to be invested with the Trustees for 6 months or more to obtain the interest rate above.
Investments can be redeemed on request. Requests of up to $500,000 are usually processed within 5 business days. Larger redemption requests will require longer notice and may be subject to delayed or staggered redemption payment processes.
The Trustees are not an Authorised Deposit Taking Institution (e.g. a bank), and so funds invested with the Trustees are not guaranteed in the same way as a bank deposit. Investment with the Trustees is different than investing with banks, finance companies or fund managers. The investment is only intended to attract investors whose primary purpose for making the investment is to support the charitable purposes of the Anglican Church in Tasmania. There is a risk that an investor may not recover any or all of the funds invested. The Trustees work to mitigate this risk by ensuring a sufficient capital buffer.
The Investment pool has not been reviewed by ASIC. The Trustees do not hold an Australian Financial Services Licence. The Trustees are able to operate the investment pool under exemptions set out in ASIC Corporations (Charitable Investment Fundraising) Instrument 2016/813.
The information on this page is general financial product advice about the Trustee Investment Pool only. The offer document is available at the link below. This information does not take into account the specific needs or requirements of any investor or potential investor.