Charities Aid Foundation appoints IFSL as authorised corporate director for multi-manager funds
Investment Fund Services Limited (IFSL) has been appointed as Authorised Corporate Director (ACD) for the multi-manager fund range from Charities Aid Foundation (CAF), which is a charity that supports other charities in the UK and around the world.
IFSL runs four funds: IFSL CAF Fixed Interest, IFSL CAF UK Equity, IFSL CAF International Equity and IFSL CAF Alternative Strategies. IFSL will provide full in-house fund administration services for the range, and is accountable to the Financial Conduct Authority.
IFSL took over as ACD for the funds, which had around GPB180 million of assets under management on 23rd May 2020.
Launched in 2011, the CAF funds are designed for charities investing with the aim of growing their capital over the long term and/or providing a sustainable income to finance their work.
Martin Ratcliffe, associate director of Business Development at IFSL, says: “The ACD is the independent steward overseeing how a fund is run and helping to protect the best interests of investors. That’s an important role and we’re delighted that CAF has chosen us to take on the responsibility for its funds.
“CAF does great work supporting charities in the UK and around the world. We’re looking forward to seeing the funds go from strength to strength and providing a first-class service to the charities investing in them.”
Bridgit Richards, CEO of CAF Financial Solutions Limited, adds: “Following a robust selection process, we are very pleased to appoint IFSL as the new ACD for the IFSL CAF Investment Funds. We are keen to develop the funds and to explore new avenues for the charity investment market and believe we have found the right partners who share these ambitions.”
IFSL CAF Fixed Interest, IFSL CAF UK Equity, IFSL CAF International Equity and IFSL CAF Alternative Strategies are all sub-funds of the IFSL CAF Investment Fund, which is a Non-UCITS Retail Scheme (NURS) using an open-ended investment company structure.