§ 34. Mr. Jenkin
To ask the right hon. Member for Selby, representing the Church Commissioners, who is responsible for deciding the overall balance of the Church Commissioners' investments; and what policy is currently being pursued.
§ Mr. Alison
The commissioners' assets committee is responsible for deciding the balance of the investment portfolio with general rules made by the board of governors. The commissioners' long-term aim is to achieve a diversified portfolio which bears comparison with those held by other institutions with similar responsibilities. This will mean a reduction, over a period, in the commissioners' property holdings, although, of course, this can be achieved only as market conditions allow.