UK - The £5.67bn (€6.3bn) Church Commissioners scheme of the Church of England (CoE) are looking to appoint a director of investments to oversee its equities and property investment teams.

The commissioners' main task is to obtain the best possible long-term return from a diversified investment portfolio, in order to meet their pension commitments and to manage the finances of the nationwide ministry of the Church.

A CoE spokesman told IPE the new investment director's role would include responsibility for the closed defined benefit clergy pension fund, which funds pensions earned by clergy on service before 1998.

The commissioners work under one roof with the church's Archbishops' Council and the Church of England Pensions Board in London, though there is no overlap in the investment structures.

According to a spokesman, the separate investment teams have their own chief investment officers, though the church has decided to recruit someone to overview the portfolios as a chief surveyor in charge.

He added the new director of investments does not have to be ordained.

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