WASHINGTON, D.C.: The Church of England Pensions Board has launched a public company to act as an investment vehicle to fund housing for retired clergy. It has already raised £70 million through the issue of fixed-interest bonds.
Charm Finance PLC – named after the Church Housing Assistance for Retired Ministers (CHARM) scheme – was incorporated on 17 July. Last week, it published a regulatory notice through the London Stock Exchange, advising that it was issuing 100 million £1 bonds; and was offering 70 million of them for sale. It will retain the remaining 30 million bonds, but may sell them at a later date…