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Investment Sub-Committee


Membership 2017/18

Treasurer (Chair)

Keith Bedell-Pearce

Vice-Chancellor and President

Professor Stuart Croft

Provost

Professor Christine Ennew

Group Finance Director

Rosie Drinkwater

Academic Member of Staff, co-opted and approved by the FGPC

Professor John Colley (2019)

Independent member, who may be a serving independent member of the Council, appointed by the FGPC

Vacant

Independent member, who may be a serving independent member of the Council, appointed by the FGPC

Vacant

Note: The year after a member's name indicates that their term of office expires on 31 July of that year.

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Terms of Reference

The Investment Sub-Committee (ISC) was established to assist in the development of University policy on treasury management. The Sub-Committee is consulted by the Finance and General Purposes Committee (FGPC) on the annual report prepared for the University on treasury management and on other matters relating to the management of investments.

(a) The Investment Sub-Committee (ISC) is responsible to the FGPC for:

(i) The University of Warwick Investment Fund (“the Fund”)

(A) Keeping under review the Fund’s list of “considerations in determining investment strategy” (available on request), recommending changes to the FGPC where appropriate and monitoring compliance with the items within this list.

(B) Keeping under review the spread and type of the asset allocation of the Fund and advising the FGPC of any changes to the allocation.

(C) Monitoring the performance of the Fund as a whole against expectations.

(D) Negotiating a fee scale for the Fund Manager(s) and other terms in the contract with the Fund Manager(s) and making recommendations to the FGPC on these matters.

(E) Agreeing the broad investment guidelines with the appointed Fund manager(s).

(F) Determining and monitoring the ranges within which the Fund manager(s) operate(s).

(G) Reviewing the performance and continued suitability of the Fund manager(s) and recommending changes to the FGPC as appropriate.

(H) Holding regular meetings with the Fund manager(s).

(I) Monitoring the terms of appointment of the Fund manager(s).

(J) Monitoring the corporate governance activity and policies of the Fund manager(s).

(ii) Other

(A) Advising on investment matters and recommending to the FGPC policies on the management of all other cash (i.e. that not invested in the University Investment Fund); money market investments; capital market investments and all borrowings.

(B) Taking relevant professional advice where appropriate, ensuring that costs involved are reported to the FGPC and that the University’s Financial Regulations and Procedures are adhered to where relevant.

(C) Reviewing the University treasury management policy and recommending changes to the FGPC as required.

(D) Dealing with other matters relating to University investment, loan financing and treasury management issues as referred by the FGPC.

(E) Liaising with the Investment Sub-Committee of the University of Warwick Pension Scheme as required.

(b) Recommendations on the investment of endowments will also be made to the FGPC and / or to the Trustees of the University of Warwick Foundation as appropriate.

(c) As a point of general clarification, where items considered by ISC relate to a change in policy, being material, these will be referred to the FGPC for approval. Where items considered by the ISC relate to items which need to be approved within already agreed policies then approval may be given by ISC and the outcomes of decisions reported through to the FGPC.

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Reporting Structure

The Investment Sub-Committee reports to the Finance and General Purposes Committee.

Click here to see a diagrammatic representation of the Committee Structure.

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Secretariat

Secretary: Debbie Jay, Deputy Finance Director (Group Accounting)

Assistant Secretary: The role of Assistant Secretary rotates between the Assistant Registrars (Governance), so please use investsubcommittee at warwick dot ac dot uk in the first instance to make contact with the Investment Sub-Committee Secretariat.

Correspondence should be sent to investsubcommittee at warwick dot ac dot uk.


Papers for consideration by the Investment Sub-Committee should be submitted two weeks in advance of the meeting at which they are to be considered.

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Meetings

Dates of meetings of the Investment Sub-Committee can be found within the University Committee Timetable.

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