CHIPs are Down
The CHIPs are down set out a template for stronger charitable investments. Drawing on the Myners Review, it made major recommendations for charities and their investments. These included:
- The need for clarification to be given as to a charity’s ability to follow a broad ethical policy
- The duty of care placed on charity trustees should not be increased, lest it engender difficulties in their recruitment
- Trustees should be able to claim tax relief for time devoted to charity activities
- Investment decisions should be taken only those with the necessary skills and resources
- Large charities should arrange for the investment performance of their funds to be independently measured and monitored
For the full report, please see here.