University of Reading appoints leading sustainability manager Cazenove Capital as it divests from fossil fuels
The University of Reading, one of the UK’s world-leading climate change and sustainability research universities, has appointed leading sustainability investment manager Cazenove Capital to manage its £120 million multi-asset endowment portfolio.
From an initial application pool of 26 world-leading investment managers, the University took this opportunity to respond to the concerns of students, staff and other stakeholders and give a significant weighting to ethical, social and governance issues in the choice of a new manager. The University undertook extensive interviews of the shortlisted firms, with the invaluable help and guidance of the student union.
Cazenove Capital demonstrated the very highest levels of sustainable investing, as well as showing a profitable and innovative approach to stewarding the University’s long-term endowment assets. It has a credible and proven track record in helping UK Universities in their path to full divestment from fossil fuels and managing low carbon portfolios. It is also the largest investment manager for charities and endowments in the UK, working with over 1,500 organisations including 25 Universities and Colleges, and is a leader in sustainable investment.
Cazenove Capital, is part of the Schroders Group which has been rated A+ by the UN Principles for Responsible Investment for the fifth consecutive year and was named in 2017 as the top asset manager for sustainability in Europe by ShareAction.
Samantha Foley, Chief Financial Officer, University of Reading commented:
“We are confident that Cazenove Capital, and the wider Schroders Group, align with our own stance on climate change and with the Paris goals. We are pleased to see that they have committed to mitigating their carbon emissions from 2020 and to 100% renewable energy use by 2025.
“Schroders has recently been named as one of the world’s 2000 most influential companies with the ability to make a meaningful contribution to achieving the UN Sustainable Development Goals by the World Benchmarking Alliance.“
Kate Rogers, Co-Head of Charities, Cazenove Capital commented:
“We are delighted to be working with the University of Reading. The multi-asset portfolio will be managed on a fossil fuel-free, low-carbon basis.
“The new approach has four key characteristics; lowering carbon emissions - the proposed equity portfolio has 80% less carbon emissions than the world index; a reduction in emissions equivalent to planting over 200,000 trees per year; engaging with companies to encourage the transition to a lower carbon future – using the influence of a large global asset manager; and investing in solutions to meet environmental needs, such as renewable energy and infrastructure.”
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About Wealth Management
As a long-established wealth manager with an absolute focus on preserving and growing our clients’ wealth, what matters most to our clients, matters most to us.
Private individuals, family offices, trusts, institutions and charities all rely on us to provide them with bespoke wealth management services. Skilled in investment management, wealth planning and banking services – we also offer discretionary fund management to external advisers and their clients, and we are the largest charity fund manager by assets under management in the UK.
For two centuries we have helped clients look forward to a successful future. With each client, we plan for the long term and invest the time to gain a detailed understanding of their unique circumstances, goals and ambitions. The majority of our clients, and many of our own people, work with us for years, decades and even generations. This creates relationships of unusual depth.
Our experience of navigating complex markets and adapting to change helps us balance risk and reward. The investment expertise we call upon as part of Schroders, a truly global asset manager, combined with our long-standing experience of advising clients, is what sets us apart.
Wealth Management office locations
Cazenove Capital: UK and Channel Islands. Schroders Wealth Management: Singapore, Hong Kong and Switzerland.
£57.9 billion (CHF 72.7 billion/ €64.5 billion) assets under management globally across all Wealth Management offices (including Benchmark Capital) as at 31 December 2018.
Further information about Cazenove Capital can be found at www.cazenovecapital.com.
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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 is a trading name of Schroder & Co. Limited. Registered Office at 1 London Wall Place, London EC2Y 5AU. 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.