Barclays has launched its new Charity Fund, a tax elected fund designed for UK charities.
The fund will provide access to Barclays’ proprietary asset allocation and portfolio construction techniques, enabling charities to make use of nine asset classes to diversify risk and maximise returns.
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The fund, which has a 3.5% income target at launch, provides an ethical investment strategy, with no direct exposure to companies that generate more than a small proportion of their turnover from tobacco, arms, pornography and gambling.
Edward Kirwan, head of discretionary portfolio management, charities at Barclays Wealth and Investment Management, said: "Our charity clients want a focused, responsibly invested, tax-efficient portfolio packaged in the simplest, and most efficient and cost effective manner possible."
Kirwan added that the fund is aimed at long-term investors, with a horizon of 10 years plus.
"The fund seeks to provide a sustainable level of income, together with the prospect of growth in both capital and income through investment in a diversified portfolio of assets.
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By GlobalData"The launch of this fund is further evidence of our commitment to our Citizenship agenda that aims to deliver a net positive benefit to society," Kirwan added.
