Anglican Financial Care welcomes new Chief Executive

Anglican Financial Care welcomes new Chief Executive

by | 2 Aug, 2021 | General

Anglican Financial Care (AFC) recently announced the appointment of Margaret Bearsley as Chief Executive. Margaret is expected to take up the Chief Executive Role on 13 September 2021.

Margaret will be succeeding Mark Wilcox, who has served as Chief Executive at AFC for almost eight years.

Margaret is an experienced senior executive and Chief Executive with a strong record in her legal and regulatory roles. This includes many years at the Takeovers Panel which regularly engaged with financial services and capital markets issues.

In addition to this experience, she has led the Corporate Secretariat of the Accident Compensation Corporation. This gave her exposure to the ACC Investment Committee which oversees ACC’s $52 billion fund.

Dean Lawrence Kimberley, Chair of AFC, said: ‘Margaret is a well-respected and proven Chief Executive who has a strong track record delivering strategic and operational progress, while developing a culture focused on care and service. I am confident she will have the same focus for our members.

‘She is also a committed member of the Catholic Church which is demonstrated by her original degree being in Theology from Holy Cross College and Otago University, and she is continuing to maintain her theological reading.

‘Her legal studies at Waikato University had a strong focus on Te Tiriti and she is continuing to deepen her understanding of Māori spirituality. I am excited that Margaret will be leading the AFC team.

‘I would also like to thank Mark Wilcox for his outstanding contribution to AFC over the last eight years. Mark joined us in 2013 and has led the organisation through a period of significant change developing a strong commercial discipline during which funds under management have grown by 50% and organisational capacity and capability have been significantly enhanced. Mark is committed to leading AFC until Margaret takes up the position.’

Investment Returns at 31 March 2021

Investment Returns at 31 March 2021

by | 4 May, 2021 | Investment

 

Investment returns (before tax and fees) for the quarter ending 31 March 2021 are:

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The returns for Funds with shares in them (Growth and Balanced) achieved solid results, particularly over the last 12 months. The run up in share prices over the quarter reflected increasing optimism with regards to the economic outlook, largely due to the progress of the vaccine rollout and the fact that some governments (and their central banks) announced ongoing support for the economy (this optimism was in spite of the varying COVID statuses around the world). The 12 month returns cover the period after the significant sell off that occurred in the March 2020 quarter. The OECD* and IMF** both increased their respective global growth forecasts in the quarter. However, as the growth outlook improved some investors became concerned about inflation and or interest rates in the future, and therefore longer term interest rates rose (i.e. bond prices fell). This held back overall returns but led to falls in the quarter for the Income Fund. With interest rates at lows and elevated share prices we remain cautiously invested (that said we should continue to benefit from any further improvement in the growth outlook).

 

*The Organisation for Economic Co-operation and Development (OECD) is an international organisation that works to build better policies for better lives. Their goal is to shape policies that foster prosperity, equality, opportunity and well-being for all.

** The International Monetary Fund (IMF) promotes international financial stability and monetary cooperation. It also facilitates international trade, promotes employment and sustainable economic growth, and helps to reduce global poverty.