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Impact Investing

IPE special report May 2018

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Charity divides £652m among three

The London based UK PPP Healthcare Medical Trust, which funds grant programmes for medical research, training and healthcare, has dished out three new investment mandates worth £450m(£652m), using money from the sale in 1998 of PPP healthcare group to Guardian Royal Exchange.
Fidelity Pensions Trust scooped the largest slice, a £185m active UK and global equity brief, using the WM unconstrained universe of 380 charity funds as its benchmark.
Britannia Asset Management also picked up a similar mandate for approximately £115m, with both briefs attracting eight manager tenders each.
Barclays Global Investors was also selected from a shortlist of three for an £80m UK passive index mandate.
Mark Freeman, head of finance at the trust, commented: As a charity with ambitious funding programmes, we cannot afford to jeopardise our capital base. In choosing how to invest our assets, risk-control was therefore a key objective and putting a passive strategy at the core, with two complimentary risk conscious but active portfolios, met these objectives.
Consultancy to the tender was carried out by Watson Wyatt."

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