§ 35. Mr. SteenTo ask the right hon. Member for Selby representing the Church Commissioners, what discussions the Church Commissioners have had with the Charity Commission about the reduction in value of the Church Commission's property portfolio, and if he will make a statement. [6534]
§ Mr. AlisonIn the three years to 1995, the commissioners' United Kingdom property portfolio achieved a total return of 17.9 per cent. per annum and they were the best performing fund of all those measured by the Investment Property Databank. In the 10 years to 1995, the return averaged 9.1 per cent which was slightly ahead of that recorded by the WM all-funds index.
The Church Commissioners are not subject to control by the Charity Commission, although meetings are held from time to time on matters of mutual interest.