Charities
Our aim is to develop a real understanding of every charity’s specific requirements and each charity portfolio is managed on a segregated basis.
Rathbones is a top 20 manager of charity funds1 with £1 billion2 of charity funds managed on behalf of over 500 charities.
The manager of a charity portfolio has the flexibility to adjust portfolios in response to any changes in market conditions or in the investment policy. This segregated approach contrasts with the collective approach whereby charity investments are managed in a common investment fund – an approach taken by some investment managers, particularly for smaller charities.
In our opinion, the collective approach can make individual requirements more difficult to meet, particularly in light of trust legislation which places pressure on trustees to scrutinise their charity’s objectives and ensure that they adopt and adhere to an appropriate investment policy.
In this context we believe Rathbones’ segregated approach can help trustees meet their obligations.
1 Charity Finance November 2006 by discretionary
assets under management
2 All figures as at 30 June 2007
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