IAM launches charity service

Ingenious Asset Management (IAM), has launched a charity service to provide multi-asset investment management for charities and similar bodies in the UK.

IAM, part of UK-based investment and advisory group Ingenious, is portfolios worth between £250,000 and £5 million, which are often regarded by other professional managers in the sector as too small for bespoke discretionary management services and steered towards Common Investment Funds (CIFs) without the provision of an on-going responsibility for asset allocation.

The service will be headed up by Philip Todd, previously head of the charities division of Hill Samuel, who has advised on the investment of National Lottery monies and is himself a trustee of two charities.

Todd said: “For too long, charitable organisations have had limited choice when it comes to portfolio management, with a handful of advisers dominating the market. The sector is in need of a shake-up as too often smaller charities have been poorly served with inadequate explanation of the level of risk being taken and their funds either lumped together into CIFs or treated the same as private investors.”

“In reality every charity is unique, with specific cash-flow requirements, different trustees and varying time horizons, which is why charitable investors are calling for a bespoke approach to their portfolio management, tailored to their individual risk appetites. At Ingenious we take pride in our ability to manage risk and feel our focus on protecting the downside is ideally suited to charitable investors seeking real returns and income growth.”

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