Policy update - January 2019


Kate Rogers

Kate Rogers

Head of Sustainability | Co-Head of Charities

Cazenove Charities

Charity Commission for England and Wales: News

New strategy

The Charity Commission published its five year ‘Statement of Strategic Intent’ setting out their five key strategic objectives as follows

  1. holding charities to account
  2. dealing with wrongdoing and harm
  3. informing public choice
  4. giving charities the understanding and tools they need to succeed
  5. keeping charity relevant for today’s world.

Find out more here

Governance update

The Commission have also published their updated governance framework, coinciding with three new members joining the board; Tony Cohen, Ian Karet and Nina Hingorani-Crain.  A key change is that the CEO, Helen Stephenson, has joined the board.

Safeguarding guidance

The Charity Commission has published updated safeguarding guidance to help charities and trustees better understand their legal duties around protecting people.

Review of Charity Reserves Policies

The Charity Commission’s recent review of charity reserves found that only 22% of charities in the sample quoted a reserves figure calculated in accordance with their guidance indicating an incomplete understanding of reserves and could lead the trustees to make poor decisions about the charity’s finances. 

Review of total return regulations

The Charity Commission has published the result of their review of the total return regulations – thank you to those of you who provided us with feedback, which informed our response to the consultation (via the Charity Investors Group).  The Commission are not proposing any significant changes to the regulations. 

New Civil Society Minister

Mims Davies MP has been appointed as the new Minister for Civil Society, taking over from Tracey Crouch MP, who resigned in protest at a delay to the cut in maximum stakes for fixed odds betting terminals.  She is also responsible for social enterprise, youth, sport, loneliness, horse racing, gambling and lotteries.

NCVO: Guide for Charities on Brexit

NCVO have published a new factsheet setting out the main Brexit considerations for voluntary organisations in the UK  and suggesting practical steps that charities can take to prepare for the post-Brexit environment.

Civil Society Futures

Civil Society Futures was a two year independent inquiry into the future of civil society in England.  It has published its final report ‘The story of our times: shifting power, bridging divides, transforming society’.

Charity Digital Code

A new Charity Digital Code has been published aiming to help charities increase impact, develop skills and improve sustainability through digital.

Scottish Charities

A new code of best governance practice has been launched for Scottish charities. The Scottish Governance Code for the Third Sector was developed by a group including SCVO, OSCR and the Scottish Government.  It sets out five core principles: organisational purpose, leadership, board behaviour, control, and effectiveness.

Updated investment guidance for Scottish Charities has been published by OSCR.


Kate Rogers

Kate Rogers

Head of Sustainability | Co-Head of Charities

Cazenove 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. 

Contact Cazenove Charities

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

James Brennan

James Brennan

Portfolio Director james.brennan@cazenovecapital.com