Investment management firm Quilter Cheviot has launched the Quilter Cheviot Global Income & Growth Fund for Charities, which has been structured as a Charity Authorised Investment Fund (CAIF).The CAIF is a registered charity in which charities that qualify for UK tax relief are able to invest and benefit from the same direct tax exemptions available to all UK charities.
The Quilter Cheviot Global Income & Growth Fund for Charities offers a multi-asset approach focused on growing both capital and income over the long-term. Utilising the firm’s investment process, the fund will invest in a mix of direct equities (UK, US and Europe primarily) and bonds, as well as funds to gain exposure to specialist areas such as property, infrastructure and also to equities in other geographic areas.
Andrew McGlone, Quilter Cheviot’s Chief Executive, says: “We appreciate just how important it is for charities to generate a return above inflation in order to fund current and future commitments.”
“We have developed the Quilter Cheviot Global Income and Growth Fund for Charities in response to an increasing demand from charities for access to a diversified portfolio with all the benefits of a fund structure. This fund offers full access to our investment expertise and mandates will be managed in-line with our core charity investment strategy but within a convenient cost-efficient wrapper”.
“We know that for many charities, accessing investments may feel overly onerous in terms of cost and administration which the fund aims to alleviate.”
Quilter Cheviot acts as the investment adviser to the fund and Howard Jenner and Gemma Woodward will be responsible for the day-to-day management; both are part of the firm’s dedicated charities team led by William Reid. Quilter Cheviot has GBP1.9 billion of charitable assets under management (as at 30 June 2019).
The fund is regulated by both the Financial Conduct Authority and the Charity Commission; and the authorised corporate director (ACD) is Quilter Investors.