Investments Sub-Committee

Committee description

Secretary: Kathryn Cross, Email: kathryn.cross@liverpool.ac.uk

Terms of Reference

On behalf of the Council, to undertake the following duties:

a) To advise the University on all issues relating to the investment of its monies, including any unapplied income, in such stocks, funds, shares or securities as the Council shall from time to time think fit.

b) To advise the Council, through the Finance and Resources Committee, on the appropriateness of the investment strategy for the management of monies belonging to the University.

c) To oversee the performance of the University’s overall investment portfolio, and monitor that investment return targets are met in line with the University’s Investment Strategy.

d) In pursuance of the responsibilities set out in a) above, to advise the University in relation to buying, selling, exchanging, leasing and accepting leases of real and personal property on behalf of the University.

e) To advise the Council, through the Finance and Resources Committee, on the appointment of fund managers.

f) Where portfolios are managed by external fund managers, to oversee the management of the portfolios, to set policy parameters, to monitor investment performance and to review periodically investment managements.

g) To monitor adherence to the Ethical Investment Policy by Fund Managers in terms of the principles and exemptions agreed by the University as part of its commitment to invest funds on a socially responsible basis.

h) To advise the Council, through the Finance and Resources Committee, on the appropriateness of the Ethical Investment Policy.

Reporting Relationship

The Investments Sub-Committee reports to the Finance and Resources Committee.

Frequency of Meetings

The Investments Sub-Committee usually meets on four occasions during the academic year. Additional meetings can be arranged if required.

Quorum

The quorum for meetings of the Investments Sub-Committee shall be three members.

Members or key people

Chief Financial Officer Nicola Davies
Guild of Students Representative Holly Thompson (2024-25)

Up to six members appointed by the Council, who may or 
may not be members of the Council and who shall include
individuals with financial and investment management
expertise

 Ed Fishwick (Chair) (2023-26)
  Professor B Gibson (Deputy Chair) (2023-26)
  Ian Bakewell (2024-27)
  Adrian Maxwell (2024-27)
  Peter Tod (2023-26)

In Attendance at all meetings:

Head of Corporate Finance Roger Bickerstaff
University Endowment Accountant (from November 2024) Ying Li

University Endowment & Compliance Officer (until November 2024)

 Denise Jones
Charity Intelligence John Dowie
Charity Intelligence Lynn Pates

The Investments Sub Committee will also invite Fund Managers along on a periodic basis, to present to the Committee.  

Membership Guidance Notes:

  • A Lay Member is a person who is neither a member of staff or student at the University, and is appointed to a committee as a result of their expertise. They should be appointed on a three-year term, serving a maximum of three consecutive terms.
  • Ex-Officio members are automatically appointed as a result of their roles at the University and have no maximum term.
  • Other members may be co-opted or invited to attend for specific meetings at the discretion of the Committee.
  • The Committee may establish time-limited groups as necessary to deal with pertinent issues.

Meeting dates

  • 22 September 2024, 2.00 pm
  • 22 November 2024, 2.00 pm
  • 6 February 2025, 2.00 pm
  • 21 May 2025, 2.00 pm

A full schedule of Committee meeting dates can be viewed here.‌

Meeting papers are restricted to members of the Committee and are not for wider circulation.