Cazenove Charities responds to the budget announcement of a new authorised fund structure that benefits charity investors
Today it was announced that a new fund structure would be made available to charity investors. Introduction of the new Charity Authorised Investment Funds will allow charity investors to benefit from a regulated structure which will be exempt from VAT. Subject to further clarification and regulatory approval, Cazenove Charities will look to convert their five Common Investment Funds to Charity Authorised Investment Funds.
Giles Neville, Head of Charities at Cazenove Capital Management, welcomes the announcement:
“We congratulate the Charity Investors' Group and our colleague Kate Rogers, in her role as Chair, on championing this important development as we recognise that both effective financial regulation and value for money are key considerations for charity investors.”
For further information, please contact:
Kate Rogers, Head of Policy, Cazenove Charities
+44 (0)20 7658 2480/ email@example.com
Victoria Hayes, Head of Marketing & Communications, Cazenove Capital
+44 (0)20 7658 1214/ firstname.lastname@example.org
Notes to editors
Cazenove Charities is the largest charity investment manager in the UK, responsible for £7.8bn of charitable assets. Cazenove Charities run 5 Common Investment Funds with total assets under management of £1.1bn.
- Charity Multi-Asset Fund - £372m
- Equity Income Trust for Charities - £372m
- Growth Trust for Charities - £165m
- Charity Equity Fund - £142m
- Income Trust for Charities - £68m
Source: Cazenove Capital Management, as at 31st December 2014. The Income Trust for Charities was merged with the Charity Fixed Interest Fund on 16th January 2015 and the above statistic shows the combined assets as at the 31st December 2014.
For more information, please visit www.cazenovecharities.com
The value of your investments and the income received from them can fall as well as rise. You may not get back the amount you invested. Cazenove Capital Management is a trading name of Schroder & Co. Limited. Registered Office at 31 Gresham Street, London EC2V 7QA. Registered 2280926 England. 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 or monitored.