Church Commissioners for England

The Church Commissioners for England manage the investment fund that supports the work of the Church of England. The fund is run for the long term, and its returns pay for charitable distributions to the Church. It appears in our piece on what the Church of England and other asset owners want from small companies.

How it invests

The 2025 annual report says the fund balances two aims. One is to keep enough cash and liquidity to meet near term distributions. The other is to reach a through the cycle return target of CPIH plus 4 percent, which needs high exposure to growth assets and diversification. The report records an 8.0 percent return for 2025, a ten year average of 8.6 percent and a fund value of 11.6 billion pounds at the end of 2025. The how we invest page says responsible investment is central and that an in-house team engages directly with companies, under policies of respect for people and respect for the planet.

What it backs

The how we invest page, with figures dated 31 December 2024, lists public equities at 31.6 percent, private equity at 10.6 percent and venture capital at 5.1 percent, alongside absolute return, fixed income, property, timberland and infrastructure. Property holdings named include the Hyde Park Estate in London and a 10 percent stake in the Metrocentre in Gateshead.

Key facts

• Fund value: 11.6 billion pounds at end 2025 (2025 annual report)
• 2025 return: 8.0 percent
• Return target: CPIH plus 4 percent over the long term
• Private equity and venture capital: 10.6 percent and 5.1 percent of the fund at 31 December 2024
• Distribution: Record 1.6 billion pounds announced for 2026 to 2028
• Credit rating: Aa1, per the report

The Commissioners publish no startup application route on these pages.