Page 13 - QARANC Vol 14 No 9 2014

THE GAZETTE QARANC 11
BlackRock and are placed in The Armed Forces Common Investment Fund (AFCIF), which invests broadly acros a number of markets, and also in Charinco, which is invested in bonds. AFCIF is a fund, valued at 31 March 2014 at £252 million. Its sheer size (it is BlackRock’s biggest charity portfolio) permits investments to be spread over a wider area than we could achieve in an individual segregated portfolio. There are over 120 Joint Service, Army and Navy organisations invested in AFCIF.
The Fund is looked after by Mrs Anna Sharlott who is the Finance Director of the Army Families Federation.
40. On 15 May 2014 the value of the investments of the BENEVOLENT FUND was £1,929,037. When I spoke to you in mid-May 2013 the value of the investments of the FUND was £1,956,068. Marginally down in overall capital value.On 15 May 2014 the value of the investments of the CENTRAL FUND was £1,927,984. Last year the value of the Fund’s investments was £1,887,818. Marginally up in value, owing to some re-investment. The total value of your investments is £3,884,052 and there is cash held at bank.
41. AFCIF’s Performance over the twelve months to 31 March 2014 was + 5.5% against inflation of 1.6% so the investments are keeping well ahead of inflation, i.e. the capital is growing in real terms whilst the income stream is increasing.
Adoption of the report was proposed by WO1 CRSM D Martin and seconded by WO1 A Bainbridge.
Item 7 - Benevolence Report
42. Achievements and performance of the QARANC Association - The trustees make grants to both retired and serving members of the Corps who face financial hardship, their circumstances having been assessed by the Royal British Legion, SSAFA Forces Help, the Officers’ Association or Veterans’ Aid. They support members with grants for adventurous training, certain sporting activities and sporting equipment. Branches of the Association may apply to Headquarters for help for funding social gatherings.
43. In 2013, the QARANC Association received a total of 95 benevolence requests, 12 cases were declined as they did not meet the Constitution’s objectives. The sum paid in benevolence grants in 2013 was £34,895.99; this was distributed across 83 former and serving members of the Corps. This is a decrease of £19,324.31 paid in benevolence requests from the previous year.
• 19 of the 83 received up to the equivalent of £18 a week as annual or six monthly grant.
44. The nature of the benevolence requests remains largely unchanged; our main benevolence expenditure is on Annuities closely followed by bankruptcy fees, mobility assistance, white goods, removals, carpets and rent arrears.
45. The trustees are aware of the commitment made by all serving personnel on operations in Afghanistan and have enhanced, over the past four years, their support to them with grants for conferences and prizes for outstanding professional achievement. Members of the Corps who were deployed on operations at Christmas 2013 were each remembered with a small gift. This was funded by one of our members, Liz Rolfe who lives in France. Liz raises money by holding an annual curry lunch for all the ex-pats over Remembrance weekend
for those who live in the area. They raised a total sum of £468. An afternoon was spent in M&S purchasing gifts and a ‘wrapping party’ gathered from AMD with afternoon tea and cakes on offer.
46. All members over the age of eighty are remembered on their birthday with a card and flowers and those who might be lonely or are considered in need are sent flowers or a gift at Christmas. At Christmas, gifts of between £50 and £100 were sent to 28 former members of the Corps who were considered in some need and nominated by their branches. 41 members of the Association were sent flowers.
47. In view of the support given to the Association in its benevolence role, an annual donation of £10,000 is made to the Army Benevolent Fund (ABF). The ABF make grants to our members without applying to the QARANC Association. A donation of £2,000 was made to SSAFA and £1,000 to the Spirit of Normandy Association towards a memorial.
48. The commitment and achievements of serving officers and soldiers continue to be recognised with grants towards the Health Care Assistants Conference (£100) and the Director of Army Primary Health Care Services Awards. In addition, the Association funds four prizes a year for achievements by serving officers and soldiers, both Regular and Reserve. Sixteen adventurous training exercises were supported with grants to serving personnel of between £50 and £600 each. A total of £787.30 was granted towards QARANC representative sports. The Annual Director of Army Nursing Services Conference was held in 2013.
Adoption of the report was proposed by Lt Col (Retd) K Kiggins and seconded by Maj (Retd) M Dixson.
Item 8 - Any other business
49. Col Bush, Col Commandant thanked the Director on behalf of all members for his continued support and to his team who support him. Col Bush also thanked the Director for the support he provides to the Association and the members are very grateful to him. Col Bush informed the members that DANS Symposium that was held in March was well attended by both Regular, Reserve and Association members.
50. Col Bush gave reassurances to members who were not web users, that everything will continue in the same way and the aim of the website was to reach our much younger members.
Item 9 - Date of the next Annual General Meeting
The meeting closed at 1250hrs.
The 67th Annual General Meeting will be held at 1130hrs on Saturday 16 May 2015 at the Victory Services Club, London.