The Anglican Investment & Development Fund Information

The Anglican Investment & Development Fund, Diocese of Canberra and Goulburn (AIDF) was established in 1967 by a small group of dedicated finance professional lay parishioners, along with the support of Bishop Warren and a $1,000 loan. The purpose was to subsidise loans and to make grants to parishes and diocesan agencies out of the profits. For many years it operated out of the AMP offices in Canberra although, given the strong support by lay members (investors), it quickly established agencies in a number of towns throughout the Diocese. By 1974 it had repaid the initial loan, made grants of over $4,000 and produced an annual profit of $11,500. The Fund has operated profitably every year since inception, with profits either withheld as reserves or paid out as grants. The AIDF has voluntarily adopted capital adequacy guidelines as the appropriate standard for maintaining and increasing reserves each year. Reserves are invested in order to further support investors' funds. Today the fund has grown to have around $100m in total assets and an annual profit in the order of $1m. The AIDF is established under the AIDF Ordinance which, through a 1917 NSW Act of Parliament, is a binding legal arrangement. The Ordinance includes a diocesan guarantee of the fund and outlines its purposes. The AIDF provides loans to parishes and other diocesan agencies, including schools, for building or other capital works projects and also makes housing, car and personal loans to clergy and other persons employed by the Diocese. The AIDFs core purposes of being a strong and significant supporter of local parishes, including their community activities and buildings, aligns with the Investors' desires of not only receiving competitive and accessible accounts but also of supporting their own community. The AIDF investors are a fundamental reason for the success of the AIDF over its' long history. The AIDF has previously welcomed all investors (See Statutory Compliance Update January 2017) - including individuals, partnerships, ...