Consolidated Trust Fund

The Consolidated Trust Fund (CTF) was established in 1970 to assist parishes in the east of managing and investing sums received in trust, a bequest, or a sale of property; and has become an integral part of the financial strength of the Diocese.

The Diocese’ Property and Finance Committee (P&F) and its Investment Subcommittee are responsible for the management of the Consolidated Trust Fund.

The Consolidated Trust Fund is primarily comprised of numerous trust and bequests. A portion of the fund is made up of proceeds from the sale of rectories. Each time a parish makes a contribution to the Consolidated Trust Fund, it is credited with a certain number of units of the fund based on the unit value at the end of the quarter in which the monies are received. The approved annual distribution is paid quarterly to the underlying holding trust or bequest, based on the number of units held by trust or bequest. For example, if trust had deposited $20,000 to the CTF when the unit value was $20, they would hold 1,000 units. If the annual distribution were set at 70 cents per unit, the parish would receive a total of $700 per year in distribution payouts with $175 being paid each quarter. In the case of a rectory trust, the income is used to assist with the incumbents housing allowance.

Investment Policy Statement

The Diocese’s Investment Policy Statement outlines the objectives of the fund as well as specifics regarding its asset mix. This policy guides the money manager in investment of the assets. The portfolio is invested to provide income as well as to preserve the capital for the long term, taking inflation into consideration. Although a balanced portfolio employs diversification to reduce risk, the unit values of the CTF can fluctuate up and down in the short term depending on market circumstances, and on how much is distributed. its “total net return” combines the annual charge in value of the units (after deducting investment management fees and the Diocesan administration fee) as well as the annual distribution paid out to the unit holder. This reflects the total benefit gained by holding units in the CTF.

For more information contact:
Sanjay Grover
Director of Financial Ministry
sanjay-grover@ottawa.anglican.ca
613-232-7124 x 241