Overview

Charity investment is a responsible business – judging how much to spend and how much to keep for the future is enough to keep you awake long into the night. The first instinct of charities is to keep its money safe, spend with circumspection and ensure there is plenty in the coffers for a rainy day. A natural and vigilant approach but one that author – James Brooke Turner, Investment Director at the Nuffield Foundation – turns on its head. In his innovative new book, he challenges conventional charity investment practice. Being over-protective of the capital, he argues, can thwart a charities spending plans and its ultimate mission, whereas the more a charity spends the more it can make a difference. Recognising the potential of investments and thinking clearly about financial goals frees charities to do more of what they are there for and that is to increase help to beneficiaries. This is not a book for investment technicians; it is not a step-by-step how to invest book (there are plenty of those), but is based on sound general investment principles and will help ensure you make sound and well-informed investment decisions. It covers: Financial objectives and goals The investment market Spending policies Investment strategy Reserves policy The law and governance Responsible investing Investment in practice Performance management This book is for anybody with responsibility for handling a charity's investments including trustees, CEOs and staff involved with their charity's financial strategy. No prior investing knowledge is assumed. Whatever the size of your charity, if you already have investments or are considering moving into this area, this book offers straightforward, pragmatic principles that you can put to use.

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9781784821203

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Reviews

‘The author’s inimitable style and perception make this a book a joy to read. It is laced with practical wisdom, thought-provoking bon mots and helpful case studies that build over the course of the book. The author deploys his decades of experience in the charity investment world to cover the whole gamut of topics – and does so with zest, clarity, humour and salty common sense.’ Don Bawtree, Senior Adviser, BDO LLP   ‘Cuts through all the noise and distraction by providing thoughtful and provocative tools that will be useful to any practitioner. It brings charity investors back to what really matters – using their organisation’s wealth in a way that best helps their beneficiaries.’ Matthew Cox, Investment Director, Esmée Fairbairn Foundation   ‘I recommend this book enthusiastically for the trustees and senior staff of endowed charities. It focuses on investment for UK beneficiaries, is highly practical, non-technical and very well written.’ Professor Elroy Dimson, Chair, Centre for Endowment Asset Management, Judge Business School, University of Cambridge   ’‘Investing for Charities is an invaluable guide to charity investment. It is practical, insightful and remarkably comprehensive. It is also deeply grounded in the distinctive characteristics of different types of charitY; and is packed full of the wisdom of James’s many years of experience, thought and reflection.' Luke Fletcher, Partner, Bates Wells   ‘An excellent, practical and jargon-free guide for all charity trustees, stressing the need to make and spend (wisely!) as much as you can for your beneficiaries. Given my long experience in charities and endowments – from the largest (Wellcome Trust) to a small, local charity – I know that, as James says in the book, good governance is the asset of choice. This title will be invaluable for trustees who aim to assess and implement prudent investment decisions and then to review their progress.’ Sarah Fromson, Chair of the Cambridge University Endowment Fund Investment Advisory Board   'This book provides an invaluable reminder that charities exist to spend money not to hoard it. The better we run our investment portfolios, the more we will be able to spend. James provides a comprehensive framework in practical language for improving the way charities with investment portfolios can maximise their impact.' Nick Moakes, Managing Partner and Chief Investment Officer, Wellcome Trust   ‘It was a delight to pick up a book that challenges the usual approaches that charities take to investing by focusing on spending. Bursting with ambition, insights and practical examples, this is a book for all trustees of charities lucky enough to have investments – including trustees who already have investment experience.’ David Renton, Estates Bursar, All Souls College, University of Oxford

Author Information

James Brooke Turner has worked for charities with investments his entire career and has been a trustee of numerous others, including the Association of Charitable Foundations. He has been the Investment Director of the Nuffield Foundation for many years, where he has helped to deliver some of the best returns in the sector. James co-founded Yoke & Co., a consultancy supporting charities to take ownership of their investment strategy. He has written and spoken extensively about charity investing. James studied the History of European Art at the Courtauld Institute and later Medieval Insolvency at Birkbeck. He has numerous professional qualifications and was recognised by the Charity Finance Group as one of the inaugural Inspiring Leaders in Charity Finance.

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