Remit: (To be reviewed annually at first meeting of committee cycle)
- To monitor the external management of University Endowment, Northern College 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.
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) AUSA Sabbatical Officer In attendance Other Officers, as appropriate
50% of formal membership (including Convener)