Investment policy

The Trustees’ investment policy is to maximise the growth of capital and income. Our strategy in managing the endowment fund is to draw funds from it whilst aiming to preserve its value over time; meeting today’s needs but not at the expense of tomorrow’s. We have an ethical policy which can be seen in the audited accounts accessible via the Charity Commission website.

As a guide to what can be spent on grants Trustees use an estimate of the Foundation’s annual income, but they also have the power to draw on capital annually.

                                       
YEAR 2019/20 2020/21 2021/22
Gross income 164 109 144
Investment management 40.9 44.2 49.2
Grants 126.7 166 426.5
Other charitable expenditure 26.4 24.9 25.7
Governance 8.1 3 7.3
Net inflow/(outflow)
of resources
662 1,606.3 (77.8)
Net investment
gains/losses
(658) 1,736 287
Fund balances 5,803 7,409 7,331

Notes

  • All figures £000s
  • Grants are total amounts approved in that year
  • Governance includes fees for audit and accountancy
  • Net investment gains/(losses) reflect changes in stock market values, realised and unrealised
  • Fund balances are at valuation on 5th April