Remit

Remit: (To be reviewed annually at first meeting of committee cycle)


Responsible for:

  • To monitor the external management of University Endowment Funds and Development Trust Funds.
  • To advise the Policy and Resources Committee or Trustees of Development Trust on investment policy, including objectives and restrictions in the management of funds invested.
  • To undertake the tendering for external management services, as appropriate, and to recommend the terms of appointment of external fund managers including remuneration.
  • To advise on performance benchmarks and targets for fund managers and on the format of investment management reporting, and to monitor the performance of investment managers.
  • To monitor the internal management of investment funds and cash surpluses, if appropriate.
  • To monitor and review the sustainable investment policy, and update as required.
  • To submit quarterly reports, and periodic reports if appropriate, to the Policy and Resources Committee/Development Trust via the Director of Finance.
  • To meet four times annually, with attendance once a year for those holding specific elements of the portfolio.
Composition
Convener     Director of Finance
   
Membership Three Senior Academics with investment experience (to be agreed with the Policy and Resources Committee) 
  Court/Policy and Resources Committee nominee
  Development Trust Trustee Representative
  Assistant Director of Finance (Financial Accounting)
   
In attendance      Other Officers, as appropriate
   

Quorum
50% of formal membership (including Convener)