The Church Commissioners for England, which manages the Church of England’s endowment fund, delivered a 4.1% return in 2023, marking the fifteenth year of positive returns, with the fund valued at £10.4bn at the end of 2023.

“Managing the endowment fund in a way that generates sustainable funding to support the mission and ministry of the Church of England, now and for the long-term, is our core purpose – and 2023 was another successful year with that in mind,” said Alan Smith, First Church Estates Commissioner. “In 2023, in addition to paying pensions of £120.6m, we made £223m in charitable expenditure, up 19.4% from £186.8m in 2022, with more than two-thirds of that going towards supporting dioceses and, through them, local churches.”

The in-perpetuity endowment fund delivers long-term financial support for the Church’s ministry, contributing around 20% towards the total annual running costs of the Church of England.

The Church Commissioners has provided the Church with over £3.5bn in funding since 2009, with £1.2bn to be distributed during the current 2023-2025 triennium – a 30% increase on the previous triennium, thanks in large part to the excellent investment returns generated by the Commissioners’ Investment team. The fund has delivered positive returns while building a reputation as a global leader in responsible investment.

The annual report is available for download here.