Difficult financial markets had an effect on the Anglican Church of Canada’s pension fund, which includes nearly all clergy and lay employees across Canada among its members.
Reporting to Council of General Synod at its regular fall meeting last November, the pension committee said the market value of the fund stood at approximately $436 million as of Sept. 30, 2001.
Total fund return for the third quarter was -3.5 per cent and the year-to-date return was -4.6 per cent. However, overall fund managers outperformed their benchmarks (broader market returns), which were -5.5 per cent and -12.4 per cent, respectively.
According to the most recent year-end statement, net assets available for benefits stood at $486.9 million in 2000.