A »To source a UK-wide asset management firm offering outsourced Chief Investment Officer (OCIO) services tailored to charities, a methodical and strategic approach is essential. Begin by clearly defining your charity’s investment objectives, risk tolerance, liquidity requirements, and ethical or mission-aligned considerations, as these will form the basis for evaluating potential providers. Next, compile a longlist of firms with demonstrable UK-wide OCIO expertise in the charitable sector; prominent candidates often include specialist asset managers such as Cazenove Capital, Newton Investment Management, Sarasin & Partners, Rathbones, and Brewin Dolphin (now part of RBC Wealth Management), as well as niche OCIO providers like Mercer or Cambridge Associates that have dedicated charity teams. Scrutinize each firm’s regulatory standing with the Financial Conduct Authority (FCA) and ensure they are authorized to provide discretionary investment management services. Evaluate their track record in managing charity portfolios, specifically requesting case studies or performance data relative to appropriate benchmarks and inflation-adjusted returns over multiple market cycles. Pay close attention to their responsible investment policies, as charities increasingly require alignment with environmental, social, and governance (ESG) principles or faith-based investment screens. Assess the depth of their OCIO offering: does the firm provide comprehensive strategic asset allocation, manager selection, risk monitoring, governance reporting, and custody oversight? Verify that their reporting cadence and content satisfy Charity Commission guidance and the Trustee Act 2000’s duty to monitor investments. Fee transparency is critical; OCIO mandates typically charge a percentage of assets under management (often 0.4%–0.8% for larger charities) plus underlying fund costs, but some offer tiered pricing or fixed fees. Request proposals from at least three to five firms, asking them to outline their charity-specific expertise, client service model (including the lead OCIO team’s qualifications and continuity), and how they handle conflicts of interest. Conduct thorough due diligence by checking references from other charitable organisations of comparable size and complexity, and ask about the firm’s approach during periods of market stress. Additionally, consider attending industry events such as the Charity Finance Group’s annual conference or the Pensions for Purpose charity lens meetings to network and gain informal intelligence. Finally, formalise the selection process by issuing a request for proposal (RFP) that includes a detailed questionnaire on investment philosophy, governance, reporting, fees, and ESG integration. Engage legal or investment consultancy advisors if your charity has complex needs or significant assets. By following this structured process—from needs definition through to rigorous evaluation and reference checks—you can confidently identify a UK-wide OCIO provider that combines fiduciary expertise, charity sector understanding, and a proven commitment to delivering sustained, responsible returns that support your charitable mission.

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A »To source a UK-wide asset management firm that provides outsourced chief investment officer (OCIO) services for charities, you should begin by defining your charity’s specific investment needs, including its risk appetite, liquidity requirements, ethical or impact investing preferences, and the complexity of its asset pool. The OCIO model, where an external firm assumes discretionary investment management and often strategic oversight, is increasingly popular among charities seeking professional stewardship without building an in-house team. Your search should focus on firms regulated by the Financial Conduct Authority (FCA) and with demonstrable experience serving charitable clients. Start by consulting the Charity Commission’s list of professional advisers, the Association of Investment Companies (AIC) charity sector directory, and the Investment Association’s OCIO register. Additionally, industry bodies such as the Charity Finance Group (CFG) and the Pensions and Lifetime Savings Association (PLSA) may offer insights, though the latter is more pension-focused. Key criteria to evaluate include the firm’s track record in managing charitable portfolios (ideally at least a decade), the number of charity clients, and their assets under management (AUM) specifically for the sector. Verify that the firm offers a truly bespoke OCIO service, not a one-size-fits-all model. Look for evidence of robust governance: the firm should provide a dedicated investment committee or client team that meets regularly, offers transparent reporting (including total expense ratios and net-of-fee performance), and adheres to the Charity Commission’s CC14 guidance on investment. Request a sample investment policy statement (IPS) tailored to charities, and ensure the firm can accommodate any charitable requirements such as total return or income mandates, Socially Responsible Investment (SRI) or Environmental, Social, and Governance (ESG) integration, and alignment with the Charity’s mission. For due diligence, ask for references from at least three charity clients of similar size and complexity. Inquire about the firm’s disaster recovery and business continuity plans, as well as their professional indemnity insurance coverage. Benchmark their fees—typically a percentage of AUM plus a performance fee, though many charities prefer all-in fee models to avoid conflicts—against industry surveys from the CFG or the Charity Retail Association. Also consider the firm’s ability to manage multi-asset portfolios, private equity, and alternative investments if these are relevant. For a comprehensive search, approach the “Tier 1” wealth managers and investment consultancies with dedicated charity teams, such as Cazenove Capital, Rathbones, Brewin Dolphin, or Schroders Personal Wealth, as well as specialist OCIO providers like Russell Investments, Mercer, or bfinance, though the latter are more institutional. Do not overlook boutique firms that focus exclusively on not-for-profit clients, such as Croydon Securities or Gresham House. Finally, conduct a formal request for proposal (RFP) process, scoring candidates on investment process, client service, cost transparency, and cultural fit, and ensure that the final agreement includes clear termination provisions. The selection should be ratified by the charity trustees, with ongoing monitoring against a benchmark portfolio and annual reviews of the OCIO relationship. By following this structured approach, your charity can identify a reputable UK-wide asset manager capable of delivering fiduciary-level investment oversight aligned with its philanthropic purpose.

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A »To source a UK-wide asset management firm offering outsourced Chief Investment Officer (OCIO) services for charities, you must undertake a structured, multi-phase procurement process that balances fiduciary duty, regulatory compliance, and alignment with your charity’s mission and financial objectives. OCIO services in this context involve delegating full investment decision-making, strategic asset allocation, manager selection, and performance monitoring to an external specialist, allowing charity trustees to focus on governance and charitable activities. The first step is to clearly define your charity’s investment needs: risk tolerance, liquidity requirements, time horizon (perpetuity or fixed-term), ethical or mission-related investment restrictions (e.g., exclusion policies or positive impact targets), and the level of trustee involvement desired. With this mandate in hand, compile a longlist of firms that explicitly advertise OCIO capabilities for the charity sector and have a national footprint. Key candidates include large multi-asset managers such as Cazenove Capital (part of Schroders), Newton Investment Management, Rathbones Investment Management, Coutts, Evelyn Partners, and Brewin Dolphin (now part of RBC Wealth Management), all of which operate UK-wide and have dedicated charity teams. You should also consider specialist boutiques like SCM Private, Sarasin & Partners, and Psigma Investment Management, which often provide tailored OCIO solutions alongside values-aligned investing. Your search should leverage professional networks: the Charity Finance Group, the Association of Charitable Foundations, and the Investment Association all maintain directories or can offer introductions. Additionally, the Charity Commission’s guidance on investment delegation and the FCA’s regulatory framework for investment managers should inform your evaluation criteria. Once you have a shortlist of five to seven firms, request a detailed Request for Proposal (RFP) covering their OCIO philosophy, track record (ideally with charity-specific performance benchmarks), fee structure (typically a percentage of assets under management, often with tiered rates), team stability and turnover, reporting frequency and transparency, and their approach to responsible investment. Critically, assess how each firm fulfills the Trustee Act 2000 duty to obtain proper advice and to review investments regularly. Conduct face-to-face or virtual beauty parades with the lead OCIO portfolio managers, probing their understanding of charity law, the Charities SORP, and evolving Environmental, Social, and Governance (ESG) considerations. Request references from at least three existing charity clients of similar size and complexity to yours, focusing on responsiveness during market volatility, quality of charity-specific reporting (including total cost of ownership), and the depth of the strategic partnership. Confirm that the firm has a clear segregation of duties between investment management, custody, and administration, and that it is authorized and regulated by the FCA, with a robust compliance record. Finally, before appointing any firm, have your legal advisor or charity’s independent examiner review the OCIO agreement, paying particular attention to termination clauses, discretionary versus advisory boundaries, and liability caps. By following this rigorous sourcing process—grounded in your charity’s unique objectives, thorough due diligence, and an insistence on transparency and fiduciary excellence—you will secure a UK-wide OCIO partner that can deliver prudent, professional stewardship of your charitable assets.

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