For the information of Association members and following procedures set in The Almshouse Association’s approved Investment Policy
The Almshouse Association has traditionally held two investment portfolios. In 2019, The Association appointed Waverton to manage the majority of the Charity’s investments and retained M&G Investments to manage the smaller portion of the Charity’s assets.
The Almshouse Association Investment Sub Committee or Finance & General Purposes Committee recently reviewed the performance of the smaller M&G portfolio this year and has decided to move this portfolio from M&G to Waverton, thus focussing the Association’s investments with one investment manager, rather than two.
The Investment Sub-Committee / F&GP was advised by a charity investment consultant reviewing many organisations, seeking the best value for the Association. The review was carried out in a professional way ensuring good governance and transparency.
Every member charity of the Association will have their own investment criteria within their finance policy and will come to their own conclusions about how best to manage their investments for the good of the charity.
posted 13 October 22