Acorn Foundation Governing Documents
Click here to view the Acorn Foundation Trust Deed.
All donations to Acorn that are of a perpetual nature are pooled and invested together in one Fund – though each individual donor fund is tracked separately. The Fund is currently managed by Craigs Investment Partners, under the authority of the Acorn Foundation Investment Advisory Committee. This means all investment decisions must be approved by the Investment Advisory Committee.
The investment objectives of the Fund are:
- To grow the capital value of the Fund at least in line with inflation, to ensure the real value of capital is maintained over time;
- To generate sufficient cash return (consisting of interest, dividends and realised cash return, including distributions from private equity investments in excess of invested capital) within the Fund on a rolling annual basis to:
- Cover the administration expenses of the Fund, including the Investment Manager;
- Contribute to the operating expenses of the Foundation’s administration (currently set at 1% of FUM); and
- Provide sufficient nominal cash flow to grow the Foundation’s annual charitable distributions measured on a real dollar value basis, (indicatively an income yield of between 3.5% to 5.0% pre-inflation).
The Fund will be managed with a Socially Responsible Investment framework which reflects the Foundation’s Vision.
The long term strategic asset allocation is: