Agenda item

Report of the Chief Grants Officer.

The Chief Grants Officer introduced a progress report on social investment activity within the Corporation.

Advisors

Members noted that three social investment advisors had been identified during a review of prospective new providers – Triodos NV, Bates Wells Braithwaite and iforchange. Members queried costings and noted that all advisors would be engaged on a spot-purchase basis rather than retainer so the Board could benefit from the flexibility of matching the right advisor to the right prospective investment.

City Bridge Trust Strategic Review

Officers advised that CBT had commissioned a piece of research investigating how the Trust could build on the work being done through the Stepping Stones fund and undertook to circulate this once it was available.

RESOLVED – That:

a)    Bates Wells Braithwaite and iforchange be appointed as advisors to the Fund;

b)    the proposed approach to a diversified portfolio with a range of risk tolerances be endorsed;

c)    the social investment research commissioned by the City Bridge Trust as part of its Strategic Review be circulated in due course and

d)    the report be noted.