Agenda item

Report of The Chamberlain.

Governors received a report from The Chamberlain ‘Draft Annual Report and Financial Statements 2020/21 of the School’s charity CLS Bursary and Awards Fund’.

It was suggested that there might be merit in exploring whether there was scope for diversifying the risk within the investment policy, and in exploring whether the Charities Pool was the best place for the funds to be held.

Governors noted that the statement of financial activities (page 40 of the agenda pack) showed an improved rate of return in 2020/21 compared to the previous financial period, that the Charities Pool had outperformed the FTSE All-Share Index over a five-year period, and that there was merit in pooling the funds.  Governors also noted that a substantial fee reduction had been obtained from the fund manager (Artemis) and that the issue of widening of the mandate away from the FTSE was being kept under review.  

RESOLVED, that the report be received.