Agenda item

The City Educational Trust Fund and the CoL Combined Education Charity both invest in the City of London Charities Pool. 

The City of London Charities Pool Report and Financial Statements for the year ended 31 March 2016 is attached for Members’ information.

The Financial Investment Board oversees the Charities Pool investments and is interested in establishing the expectations of the charities that currently invest in the Pool.  To help with this, a short survey has been devised for consideration by each charity. Responses are asked to be returned by Friday 17 March 2017.

The Sub-Committee received the Charities Pool Accounts and survey for Charities invested in the Pool in relation to the City Educational Trust Fund and the City of London Corporation Combined Education Charity. Members noted that comments would be passed to the Financial Investment Board via the Education Board (which has delegated responsibility for the management of the two charities).

Members agreed that, in terms of importance, income/dividend growth ranked highest followed by ensuring a relatively consistent income/dividend return and the preservation of capital investment. The long-term perspective was supported, and more regular updates (i.e. twice a year) would be welcomed.