It has been almost twelve months since our investors transferred across to the new company, and we have completed our first set of financial statements for the new entity - Uniting Church SA Investment Fund Limited.
The financials cover the new entity’s first nine months of operations, and a brief summary of activity from 1 April 2018 to 31st December 2018 is below:
It was very pleasing to see so many investors transfer to the new company structure in March 2018, and equally pleasing that we retained the same level of investment ($202m) over the 9 month period. This has enabled UC Invest to continue its significant financial contribution to the life of the Church. The grant of $1.66m is a large sum and a significant part of the Mission & Service Fund’s budget (a further amount of $0.58m came from the Investment Services operations prior to the transfer).
We expect great results for 2019, with a focus on offering competitive interest rates, and continuing to produce a good profit, to increase the grant to the Church, even further. We will continue to put additional funds back into equity to ensure our long-term profitability.