Investment strategy  

The Trust relies on investment returns to provide the administration and grants budgets each year, making investment performance critically important.

The Trust’s Investment Committee continuously reviews and adopts global best practices in the oversight of the Trust’s portfolio. 

Helping  make those decisions is Cambridge Associates, an international investment advisor to foundations and endowments including the Bill and Melinda Gates Foundation, the W.K. Kellogs Foundation and the universities of  Harvard, Princeton and Stanford.

With headquarters in Boston and offices around the world, Cambridge Associates became  the Trust’s investment advisor in January 2010 and is providing the best strategies to maximise income, protect and future-proof assets and ensure a stable level of spending.

Assett allocation

The Trust’s asset allocation policy is categorised under four broad asset groups, or asset buckets, according to the primary roles that each asset class plays in the portfolio:

• Growth Assets: the Trust’s growth engine, consisting of both listed and private equity
• Diversification Assets: which reduce the volatility inherent in an equity-biased portfolio
• Deflation-Hedging Assets: providing insurance against a prolonged economic contraction
• Inflation-Hedging Assets: providing insurance from an unexpected spike in inflation.