Glebe Administration to sell Glebe Asset Management

The Glebe Administration Board has commenced a program of restructuring its investment operations to reflect more closely the needs of the Sydney Diocese of the Anglican Church over the next five to ten years.

The Board's fund management structure will be reduced in scope and reshaped so as to offer investment services only to the Church family.

This new structure will enable the Board to better respond to the needs of the church, by offering access to different investment styles and products.

The result of these changes is that the Board has decided to sell its current funds management company, Glebe Asset Management Ltd, which manages in excess of $568 million in institutional, retail and mezzanine monies.

PricewaterhouseCoopers Securities Ltd have been retained to advise on the changes and to manage the sales process.

Contacts

David Denny
PricewaterhouseCoopers
02 8266 7961

PricewaterhouseCoopers
Connie McKeage
02 8266 7650