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 Operating board 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 Operating Board/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 Operating Board) 
  Court/Operating Board nominee
  Development Trust Trustee Representative
  Assistant Director of Finance (Financial Accounting)
In attendance                   Other Officers, as appropriate

Quorum
50% of formal membership (including Convener)