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 Anglican diocese drops $100M in stockmarket

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RR Phantom

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Anglican diocese drops $100M in stockmarket Vide
PostSubject: Anglican diocese drops $100M in stockmarket   Anglican diocese drops $100M in stockmarket Icon_minitimeWed Jun 10, 2009 2:50 am
THE world's richest and largest Anglican diocese has lost more than $100 million on the sharemarket and is investigating ways to cut programs and ministries across Sydney.

Two years ago the Anglican diocese of Sydney was able to allocate $30 million to educate new ministers, spread the Gospel and reach out to young people. But returns from investments have plummeted so steeply that the funds available next year have been slashed to $5.6 million.

The cuts will probably jeopardise funding for places at the ministry training institution, Moore College - causing either lower student numbers or higher fees - and Youthworks, which recruits young people for mission work.

LNK
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