Stuyvesant Town apartments - Church of England defends failed £40m investment in Manhattan Photo: REUTERS In an interview with property magazine Estates Gazette just a month after the Church of England wrote of its £40m investment in the project Joseph Cannon, chief surveyor, said that while the episode was "painful" much of the criticism levelled at the Church was undeserved. "The loss of our investment in Stuyvesant Town is very unpleasant and clearly not something we would ever have wished for. But painful as it has been, we have been able to absorb it and it has not knocked us off strategic course in any way," he said.   Related Articles Church of England investment in New York apartment venture at risk, report Barclays staff threaten strike action over pensions Robert De Niro and John McEnroe among victims of New York art scam 300,000 poor families to lose up to £60 a month in housing benefit Investors to win back by millions of pounds in lost tax Dividend withholding tax decision opens floodgates for claims In 2006, the Church of England's pension fund invested £40m in the $5.[Read more...]