Charity investment policy: have your say
Are you a permanently endowed charity that has considered or adopted a total return approach?
We would like to speak to you.
The Charity Commission for England and Wales are reviewing the Charities (Total Return) Regulations 2013 and have asked a few key stakeholders for their views on how the regulations are working.
These regulations set out the rules that trustees of permanently endowed charities must follow if they want to invest on a total return basis without authority from the Commission. The review will assess whether the regulations are still necessary and fit for purpose, or whether there might be a better way of achieving the same regulatory outcome.
They are asking for any comments on the regulations and how they are being used by charities. In particular, they are asking for feedback on the following questions:
- How many charities are using the power to adopt a total return approach to investment?
- What is working well?
- Is anything in the regulations not working? How could this be improved?
- Do the regulations create any barriers preventing more charities from adopting a total return approach to investment?
Please let us have any feedback by Wednesday 19th September for inclusion in our response.
OSCR have published draft guidance on investments and have an open consultation to which we will be responding. If you would like to feed into our response then please be in touch or submit your thoughts directly on the OSCR website.
Co-head of Charities
Kate specialises in investment on behalf of charities, endowments and foundations and has over 20 years of experience, with 15 years at Schroders and Cazenove. She is a CFA charterholder and has a BSc (Hons) in Natural Sciences from the University of Durham, is Chair of her local community foundation, Vice-Chair of her local primary school and Chair of the Finance Committee of the Cripplegate Foundation. She won a Women in Investment Award for her work with the Charity Commission and FCA creating a new charity investment vehicle.
She has researched and co-authored a series of publications on Charity investment best practise including 'For Good and Not For Keeps', which examines sustainable expenditure, ‘Intentional Investing’, which researches how charities can align their investment policy with their aims as an organisation, and more recently ‘Time and Money’, which explores how charities can make the best use of longevity. Kate was chair of the Charity Investors' Group for 12 years, standing down in 2019. In this role she collaborated with CFG and authored a guide to written investment policies. Kate also regularly writes on charity investment in the charity sector press.
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.