After more than 40 years of providing investment services to the Uniting Church community, UC Invest is changing. After major updates to the regulatory conditions under which UC Invest operates, we are pleased to announce that we have been granted an Australian Financial Services Licence (AFSL) from the Australian Securities and Investments Commission (ASIC) to continue providing investments to personal and other retail investors.
On 24 January 2018, Uniting Church SA Investment Fund Ltd (UCSAIF) received notification that ASIC had approved its application for an AFSL, which triggered the next step of our restructure of operations.
The biggest change for investors will be that their accounts must be transferred to UCSAIF prior to 31 March 2018 in order to continue investing with us. This change will require action from all of our personal and retail investors.
Personal and retail investors will be asked to sign transfer documentation and return it to our office before Friday 30 March 2018 in order to facilitate the migration to our new corporate structure.
Any accounts held by personal or retail investors, who do not return their transfer documentation before the final cut-off date of 31 March 2018, will be closed and the funds returned to the account holder.
To avoid this, we are asking our investors to return their signed documentation by Friday 16th March 2018.
By agreeing to transfer your investment to the new company you will be continuing to support the Uniting Church SA and its community. Your investments in the new structure will continue to be financially backed by the investment resources of the Uniting Church SA.
This edition of Investor Returns will take you through the changes, what they mean for you and the Uniting Church community and what action you need to take.
We would like to reassure our investors that we are still able to offer a range of products and competitive investment services via our new structure, and we will continue to support the Uniting Church community via grants and fundraising efforts.