ACF responds to the publication of refreshed investment guidance (CC14)

01 August  2023

We welcome the publication of CC14 (Investing charity money: guidance for trustees) by the Charity Commission for England and Wales. 

At this time of acute social, economic, and environmental challenge, the updated investment guidance will be a useful tool for foundation trustees when developing an investment policy and making investment decisions. 

Based on member views and our pillars of Stronger Foundations practice, we engaged with the Charity Commission and fed into the redesign of the guidance. 

We are pleased to see a number of key changes introduced, including clearer, shorter and simpler guidance. We also welcome the clarification brought about by the Butler-Sloss judgment reflected in the guidance. In particular, the updated guidance sets out the need for trustees to undertake a balancing exercise when considering potential conflicts with charitable purposes against the risk of financial detriment. 

We intend to hold an event for our members in the autumn to discuss the refreshed guidance in greater detail.  

We will also be working with sector partners to develop Charity Investment Governance Principles complementary to CC14 and setting out good practice in charity investment governance. 

If you have any thoughts or questions, please get in touch on [email protected].