Charity Investment

Charity Authorised Investment Funds

26/10/2016

Giles Neville

Giles Neville

Head of Charities

Cazenove Charities

Following a number of years of work by the Charity Investors Group, led by our colleague Kate Rogers, the new Charity Authorised Investment Fund structure was launched earlier this month in conjunction with the Charity Law Association, Investment Association, Charity Commission and Financial Conduct Authority . We believe that this is good news for UK charity investors and intend to convert the Cazenove Charity funds into the new structure, subject to gaining the required approval from the regulators. The structure is available exclusively to Funds established for charitable purposes, which will be registered as charities and regulated as such by the Charity Commission for England and Wales. As authorised funds they will also be regulated by the FCA under the Financial Services and Markets Act, offering protection for the investing Charities.

The Charity Authorised Investment Fund structure replicates the main benefits of the existing Common Investment Fund  structure presently administered by the Charity Commission. The new structure preserves many of the specific characteristics of Common Investment Funds; including the tax benefits of
being a registered Charity; the ability to smooth income to aid cash flow budgeting for investing Charities and the ability to have an independent advisory committee to represent charity unitholders. Additional benefits include improved regulatory oversight, and an exemption from VAT on investment management fees.

We will be in touch with investors in our charity funds over the coming months to complete the transfer to the new structure.

The opinions contained herein are those of the author and do not necessarily represent the house view. This document is intended to be for information purposes only. The material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The material is not intended to provide, and should not be relied on for, accounting, legal or tax advice, or investment recommendations. Information herein is believed to be reliable but Cazenove Capital does not warrant its completeness or accuracy. No responsibility can be accepted for errors of fact or opinion. This does not exclude or restrict any duty or liability that Cazenove Capital has to its customers under the Financial Services and Markets Act 2000 (as amended from time to time) or any other regulatory system. Cazenove Capital is part of the Schroder Group and a trading name of Schroder & Co. Limited 12 Moorgate, London, EC2R 6DA. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. For your security, communications may be taped and monitored. 

Contact Cazenove Charities

Achieving your charity's investment objectives takes time and thought. To find out how we can help you please contact:

Giles Neville

Giles Neville

Head of Charities giles.neville@cazenovecapital.com
John Clifton

John Clifton

Business Development Manager john.clifton@cazenovecapital.com