New Finance Manager – Facilities:
CPT welcomes Michael Bishop to the role of Finance Manager – Facilities.
For parishes with funds in the Fixed Income Fund [FIF] and/or the Balance Growth Fund [BGF] or who are considering investing funds with CPT, Michael is the new point of contact. Email contact details remain the same – firstname.lastname@example.org .
Wills & Other Specific Gifts:
As you know, CPT acts as the trustee for a large number of trusts that have been created through bequests or other specific gifts. It is very important that where a parish has received a bequest or other ‘tagged’ gift, whether or not the funds are held by CPT, a copy of the will or other details of the gift, sent to CPT for filing. This will ensure that the funds are administered in accordance with the terms of the trust that has been created.
Can you please ensure copies of wills or the terms of other specific gifts are provided to CPT. Your help with this is greatly appreciated.
Balanced Growth Fund Unit Register:
The CPT finance team are currently finalising a new Investment Unit Register to manage funds held in the Balanced Growth Fund [BGF]. The new register will, amongst other things, streamline the revaluation of investment units held by parishes and improve the timing of the 6 monthly distributions.
Work on the new register is nearing completion and distribution due at the end of July will be calculated and paid by 9th September. Our apologies for this delay as we work to improve the BGF register and reporting system.
Work is also being done to clarify the investment rules for the BGF, particularly around valuations for the purchase of units [new or increased parish investments] and the redemption [withdrawal] of funds. These clarified rules will be advised to investors once approved by the Trustees.