Anglican Funds South Australia (AFSA) is an activity of the Synod of the Anglican Diocese of Adelaide. It is a charitable investment fundraisers (ASIC) and religious charitable development fund (APRA). As such AFSA is able to receive exemptions from requirements that would otherwise apply under the Corporations Act 2001 and Banking Act 1959.
AFSA only offers products to affiliated investors and associates, such as Anglican parishes, diocesan agencies, schools, affiliated entities, clergy and diocesan staff.
AFSA is required to make investors aware that;
- Neither the Synod, nor AFSA nor its products, nor its promotional material and offer documents have been examined or approved by ASIC
- AFSA products are only intended to attract investors whose primary purpose for making the investment is to support the Synod’s charitable purposes
- AFSA products and their offering are not subject to the usual protections for investors under the Corporations Act or regulation by ASIC
- Investors may not be able to get some or all of their money back when the investor expects, or at all and the investment is not comparable to investments with banks, finance companies or fund managers
- AFSA has lodged (and ASIC has accepted) an identification statement that is available via the link below
- AFSA is not prudentially supervised by APRA. Therefore, an investment in an AFSA product will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959. Investments in AFSA are intended to be a means for customers to support to the charitable purposes of the Fund.