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Research Update (November 2004)
This document is draft reserach carried out through web-searching and based on information in the College accounts (see Akme link on college SRI pages)
WHERE IS MONEY HELD AND WHAT ARE THE SRI OPTIONS AVAILABLE:
The investment performance portion of the 2003 Oriel Accounts states:
The net investment assets of the College increased from £28.02m to £49.49m in the financial year 2002-2003. Property increased from £19.16m to £44.14m; securities decreased from £8.86m to £5.35m. The value of development land has been written down by £1.8m. Securities are invested with Gerrard and Sarasin with fairly conservative mandates. Gerrard has been investing cash over the year and its performance has been in line with the market. The College has invested with Sarasin for many years and its performance this year has been very satisfactory.
>Gerrard – Gerrard appear to have an ‘Ethical Investment Team’, through it is not advertised widely on their website ( http://www.gerrard.com/ ) A search on the website for ‘SRI’ or ‘Ethical’ turns up newsletters from this ‘Ethical Investment Team’.
>Sarasin – Sarasin state that:
“With around £200m of charity funds under management* (excluding £100m of ethical mandates run out of Switzerland), we currently advise a range of around 30 charity clients, operating in fields such as education, religion, medical research, nursing homes and healthcare, Livery Companies and Oxbridge Colleges.”
It is not clear from the rest of the Sarasin website what ‘ethical mandates’ they will accept, but it appears that the principle of taking ethical based instruction does exist.
ANALYSIS
The majority of Oriel’s funds are in property. However, at least £5.5m is invested in securities and it appears through Gerrard at least that there are available SRIoptions with the current funds.
Development Trust:
The accounts show assets of £2,038,060 belonging to the Oriel College Development Trust. The Development Trust assets are set to grow over coming years, and efforts should also be made to encourage Socially Responsible Investment to be practised with regards to this fund.
Posted on 16/11/04 by admin
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