What is the makeup of Uniting Financial Services’ funds under management i.e. investments by individuals versus those of Uniting Church organisations?
As at June 2010, Uniting Financial Services (UFS) had more than $1.1 billion in funds under management, plus retained capital of $58 million. Investments by Uniting Church organisations constitute approximately 56% of our funds under management, currently totalling $655 million. Other investors provide approximately 17% of our funds under management, with a current value of around $197 million. These investments are underwritten by the substantial assets and resources of The Uniting Church in Australia Property Trust (NSW), the body constituted to hold the property assets of The Uniting Church in Australia, Synod of NSW and the ACT, which has been conservatively valued at $5 billion dollars. Retained capital, deferred dividends and borrowings make up the balance to our total of $1.1 billion in funds under management. The sole beneficiary of the capital of Uniting Financial Services is The Uniting Church in Australia, Synod of NSW and the ACT (‘Synod’), which in itself has a significant
