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The 2019-2020 financial year has been a challenging one for many in the Diocese and around the country. Whether it has been drought, bushfires, or the current coronavirus pandemic, it’s never been more important to support each other and the community.

Armidale Diocesan Investment Group (ADIG) Chief Executive Officer, Mr. Grant Devine, said “it was pleasing that during these tough times, ADIG has truly been able to live by its mantra of doing well by doing good. Our goal is to support the Diocese and Parishes which in turn supports local regional communities”.

These financial results for the year ended 31st January 2020, demonstrates ADIG’s significant strength, delivering a profit from continuing operations of $13.5 million dollars.

This exceptional result, achieved largely through the strong performance of ADIG’s equities portfolio, enabled the investment fund to grow its net assets 29 per cent, to nearly $46.5 million.

ADIG also recorded an increase of 8 per cent in Funds Under Management (FUM) to $320 million dollars with Net Investment Income up 141 per cent to $15.8 million dollars.
Critically, ADIG held cash on hand of $31.8 million and strong Capital Adequacy Ratio of 21.3 per cent.
“This is a remarkable achievement, when considering the challenges faced in a falling interest rate environment”, Mr. Devine said.

The combined growth in performance has enabled ADIG to complete the period with an increase of $33 million in total assets to $367.1M.

Mr. Devine outlined, “That in addition to the robust financial outcomes work has also been undertaken by ADIG to enhance customer experience with a new website and updated branding providing a fresh look and feel. We believe that this work will position ADIG as a great ethical and local investment alternative. Our new management team will work more effectively with clear governance and investment strategies, whilst remaining nimble to market change”.

Our CEO – Outlines ADIG performance in the following video link:  https://youtu.be/ZuObCnlqrn0

The 2020 Annual Review snapshot – www.adig.com.au/governance/reporting

Printed versions are also available for our Armidale & Tamworth offices.