Faith-Aligned Investment Framework Confirmed
BCF Pension Trust’s Statement of Investment Principles, adopted on March 5, 2025, and confirmed on April 4, 2025, reaffirms the Scheme’s commitment to investing in a manner consistent with the religious beliefs of the Plymouth Brethren Christian Church. This foundational principle guides all investment decisions, even if it constrains access to certain asset classes typically considered appropriate for long-term retirement planning. The Trustee acknowledges that this may result in lower investment returns compared to other defined contribution schemes not similarly constrained. (Source: BCF Pension Trust Statement of Investment Principles, p. 3, 4)
Strategic Asset Allocation Targets Set for 2025
Effective April 4, 2025, the BCF Pension Trust has established specific minimum and maximum holding ranges for its diversified asset classes. Cash deposits will range from 20% to 80%, Fixed Interest Government Securities from 5% to 20%, Private Equity from 0% to 15%, Equity (through structured products) from 0% to 20%, Brethren community projects and other secured loans from 5% to 50%, and Property from 0% to 10%. These allocations are designed to align with the Scheme’s investment objectives while adhering to the Brethren’s religious beliefs. (Source: BCF Pension Trust Statement of Investment Principles, p. 5)
Illiquid Assets Under Review for Enhanced Returns
The Trustee plans to explore the feasibility of increasing investment in illiquid assets with its investment adviser and investment managers. This strategic exploration is driven by the belief that there may be further financial benefits to investing in illiquid assets, despite challenges such as higher fees, longer lock-up periods, and lower transparency. The current default arrangement allows for investment in property (maximum 10%) and secured private loans (maximum 50%), with a maximum of 15% for private equity, though there is currently no exposure to private equity. This review aims to keep the policy on illiquid investments under regular consideration. (Source: BCF Pension Trust Statement of Investment Principles, p. 7)
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