The Church Pension Fund’s investment assets grew by almost $600 million in the last year, according to Church Pension Group’s annual report.
The report, released July 12, said total portfolio assets stood at $12.1 billion as of March 31, 2017, up from $11.5 billion in 2016 and $9.8 billion in 2012. The CPF investment portfolio’s total rate of return was in line with the organization’s global benchmark at 10.2 percent and well above its performance goal.
“We benefited from strong performances in the stock and bond markets,” the report said. “While we were pleased with our returns, we remain vigilant in monitoring the investment risks posed by an ever-changing economic environment.”
Last year’s performance brought up three-, five- and ten-year performance averages, which now reflect the fund performing better than benchmarks and goals in each period. Last year, assets rose enough to keep the fund’s performance above CPG’s goal while it remained below benchmarks over the three- and five-year periods.
Statistical highlights in the report show a continued decline in active clergy pension participants in 2017. There were 6,330 active participants last year, a decrease of 329 from 2014 and 664 from 2011. Active lay participants totaled 18,359 in 2017. While the report did not provide data about changes in active lay participants, the 2014 CPG annual report said active lay participants in the Lay Employees’ Retirement Plan and the Lay Employees’ Defined Contribution Retirement Plan totaled 11,756.
The report, which notes that Church Pension Fund is now in its 100th year, also provides information about the fund’s evolution in the past century.