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Treasury and Investment Services

Treasury and Investment Services. Uniting for the Common Good Neil King Executive Director. Treasury and Investment Services. Treasury and Investment Services Umbrella.

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Treasury and Investment Services

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  1. Treasury and Investment Services • Uniting for the Common Good • Neil King • Executive Director Presentation 2013

  2. Treasury and Investment Services • Treasury and Investment • Services Umbrella • Investing and Managing funds with advisory, authorisation and oversight in matters relating to investments and borrowing in all parts of the Synod Presentation 2013

  3. Investments must involve numbers … 30m 42 152m 1, 950 11k 110m 280 1 35m 9 165m 225m 5 4.8m 100m 540 300m 722m 1.019bn 5+1 171m 3 Presentation 2013

  4. Our Story… Presentation 2013

  5. Synod 2011 mentioned challenges and re-imagining … Presentation 2013

  6. Synod 2013 re-imagining … OR • 1 Cor. 12:15-23 • 15 Now if the foot should say, “Because I am not a hand, I do not belong to the body,” it would not for that reason stop being part of the body. 16 And if the ear should say, “Because I am not an eye, I do not belong to the body,” it would not for that reason stop being part of the body. 17 If the whole body were an eye, where would the sense of hearing be? If the whole body were an ear, where would the sense of smell be? 18 But in fact God has placed the parts in the body, every one of them, just as he wanted them to be. 19 If they were all one part, where would the body be? 20 As it is, there are many parts, but one body. • 21 The eye cannot say to the hand, “I don’t need you!” And the head cannot say to the feet, “I don’t need you!” 22 On the contrary, those parts of the body that seem to be weaker are indispensable, 23 and the parts that we think are less honourable we treat with special honour. Presentation 2013

  7. Why a smaller distribution? Distribution suspended after distributing average of $12m since start of GFC – generously continued in spite of lower profitability average of $1.8mover same period. Banking Covenants required “Net Worth of $30m” against our net worth at June (capital=retained earnings etc.) of $35m We should have capital closer to $100m for our business activities. Presentation 2013

  8. Through the new restructure, as approved by SSC, UR & UCTAL Boards, the Property Trust and UCTAL will borrow $150m as contributory capital and liquidity. Borrowing peaked at $300m with the facility now at $225m which is guaranteed by the Property Trust. Of the $225m, we have borrowed an average of $171m for the last 3 years. Presentation 2013

  9. The amount that the Property Trust is borrowing is not for distribution but allows for a liquidity and capital position relative to business activities. It should also assist in possibly allowing a distribution in 2013/2014. What else might help to allow a distribution? Presentation 2013

  10. We are improving and revitalising our …. Processes, Partnerships, Prudential and Portfolio Management Presentation 2013

  11. Introducing some Structural Changes…. • Since shortly before last Synod we have had significant changes to the • Board with new appointments and a new Chair • The Board has recruited directors with risk management and credit skills to form nucleus of a new look Credit Committee • Internal audit functionality outsourced to KPMG • New Executive Director • Imminent change to structure, capital position and banking facilities • New team with property lending skills to improve management of loan portfolio • 3 new team combinations with a Prudential team, a Portfolio and a Partnership team …. Presentation 2013

  12. De-risking and re-risking …. Presentation 2013

  13. By helping our Partners to develop …. Presentation 2013

  14. We also need your help …. Presentation 2013

  15. We also need your help …. • Your investment can, and will make a difference • Community of Faith Debentures are invested in the Property Trust • Our team offers a caring service and is ready to assist • Hopefully you visited our UFS stall or will make suggestions via our feedback forms on your table • By filling in these feedback forms you can help direct us to where we go next. Presentation 2013

  16. So that’s our Story… Presentation 2013

  17. To conclude .... 280 540 1,950 110 1 9 42 5 Presentation 2013

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