Event Information

For the past decade or so, investment income has fallen across all asset classes. Charity investors have therefore been forced ‘up the risk curve’, taking on more risk to generate the level of income needed. However, moving towards a more inflationary world, how should charities think about generating income?

This session will look at some of the risks inherent in conventional portfolios trying to produce a sustainable amount of income in an ever more volatile world. We will try and identify some less ‘obvious’ opportunities and consider the merits of adopting a total return approach and how this could impact portfolio construction for stewards of charitable capital. We will also talk about the sustainability of investment income from an ESG perspective, including what trustees should consider to reflect environmental, social and governance (ESG) factors.

We will be discussing:

• How the level of ‘safe’ income has changed over the past 4 decades or so.
• What alternatives there are for charities trying to generate income and the risks involved.
• Why all trustees should consider ESG criteria.
• Less discussed areas to generate a return.

About the speaker

Ajay Johal, Investment Manager, Ruffer LLP
Ajay graduated from the University of Warwick with a degree in history and sociology and worked at Barclays Wealth before joining Ruffer in 2014. In 2019, he worked as an equity analyst in Ruffer’s Hong Kong office, before returning to the charities team in London as an Investment Manager. He is a member of the Chartered Institute of Securities & Investment and is co-manager of the Charity Assets Trust.

Kristina Kopic ACA DChA, Head of Charity and Voluntary Sector, ICAEW
Kristina joined ICAEW as Head of Charity and Voluntary Sector in 2020. She is a Chartered Accountant who has worked in and for the Not-for-Profit sector for over 14 years. Kristina trained at charity-specialists Sayer Vincent and subsequently worked in senior finance roles at the Royal College of Nursing, Imperial College London and the Sainsbury Family Charitable Trusts. She has been a charity trustee for 10 years and has a master’s degree in Voluntary Sector Management and charity-specific qualifications in accountancy & financial management and law & governance.

Costs