Aberdeen Charity Solutions
Equities | Fixed Income | Property
2 About Aberdeen: Our Investment Credentials
3 Creating Charity Investment Solutions
4 First Class Service and Reporting
5 Charity-Specific Common Investment Funds
6 Our Investment Process
7 Specialist Investments
8 A Dedicated Team
9 Contact Us
Aberdeen offers a compelling proposition to help address the specialist needs of charities:
• Innovative charity solutions from a renowned international investment management group
• A dedicated and experienced charity team offering strategic advice on benchmarking and asset allocation
• A choice of bespoke solutions or charity-specific Common Investment Funds
• Strong performance and a strong commitment to client servicing
At Aberdeen, we are totally committed to the charity sector. Our charity
business is fully integrated in the institutional investment process. Asset
management is our only business – we are totally focused on performance
and client service.
Our aim is to provide charities, foundations and trusts with excellence in
fund management, combined with a high level of personal service from
experienced charity professionals, all at a reasonable cost.
From our segregated portfolios to our range of Common Investment Funds,
we offer flexible investment solutions combined with expert strategic advice
on benchmarking and asset allocation.
With our wealth of experience and close working relationships with our
charity clients, we aim to be the partner of choice for the charity sector.
We very much welcome the opportunity to help charities and their
professional advisers. We would be delighted to discuss your individual
Head of Charities
Telephone: 020 7463 6158
About Aberdeen: Our Investment Credentials
We are dedicated to asset management
At Aberdeen, asset management is our skill set. Whereas
many other asset managers are part of investment banking
or life assurance groups, we have the freedom to focus on
managing assets for third parties.
We know global markets from the local level upwards,
drawing on 1,900 staff across 24 offices in 19 countries.
We believe our focus, size and approach enable us to provide
effective asset management and superior client service. As
a group, we have the scale to provide global coverage of
financial markets; yet we are small enough to focus on
each and every portfolio decision.
Close-knit teams, clear investment processes and flat
structures are important to us. We seek to grow our clients’
assets in a way that is sustainable over the longer term.
Creating Charity Investment Solutions
We provide an individual service that is committed
to matching the specialist needs of charities with an
appropriate investment solution.
Each of our charity clients is allocated a specific team,
headed by a client director who works with our charity
clients and their advisors to establish their investment
requirements. We use our investment expertise, in
conjunction with our knowledge of the charity sector and its
legislation, to create an appropriate investment solution. We
ensure that realistic criteria are agreed for performance and
We have created a range of Common Investment Funds
which provide an effective way for charities of any size to
access well-diversified investment vehicles covering three
core asset classes at low cost. More details on these can be
found on page 7.
In addition to our charity-specific funds we offer a wide
range of funds to UK domiciled charities, covering a variety
of different markets and sectors.
We understand that larger charity clients can have complex
investment requirements which are best met through a
tailored, segregated portfolio solution.
The Charity Team take time to analyse and understand
specific requirements, so that asset allocation (and in some
cases stock selection) is established on a bespoke basis, in
line with each client’s particular requirements and guidelines.
All critical aspects are considered such as investment
objectives, ethical and legal constraints, time horizons and
attitude to risk.
Across the globe, we have highly regarded investment
teams in the equities, fixed income and property arenas.
Consistency in approach is ensured by our robust and
effective investment processes. We can overlay these
processes with strategies that are appropriate to each of our
charity clients, such as SRI (Socially Responsible Investing).
For smaller charities, who would prefer a segregated
investment solution, we offer the expertise of the Aberdeen
Private Wealth Management Team. Based in Jersey, the
Private Wealth Management Team’s sole focus is to offer
tailored investment solutions. Their commitment to
delivering strong investment performance, combined with
a high quality bespoke service, are highly attractive for our
First Class Service and Reporting
No matter what the size of a charity’s portfolio, we regard
servicing our charity clients as paramount. Reporting to
trustees will be regular, and at a frequency to meet each
specific client’s requirements. Our approach is transparent
and we encourage open dialogue and communication.
Our charities website (www.aberdeen-asset.com/charities)
is designed as a valuable source of information for our clients
and their advisers, offering pricing, market commentary,
fund manager views and latest performance.
In addition, we run a programme of UK Trustee
Education. This programme runs at various levels from
introductory to specialist, catering for trustees who
wish to expand their knowledge of investments. Please
contact us for more information or visit our website:
Charity-Specific Common Investment Funds
Designed specifically for charities, we offer three Common
Investment Funds (CIFs). Our CIFs are pooled funds which
are regulated by the Charities Commission. The funds
provide an effective way for charities of any size to access
well-diversified investment vehicles covering three core
asset classes at low cost.
Our CIFs are attractive to every size of charity, but are a
particularly good way for smaller and mid-sized charities to
create a balanced portfolio.
Features of the three CIFs include:
• Low fee structure
• No initial charges
• No exit charges
• Low minimum investment (£1000)
• Quarterly income distribution (UK funds only)
• Daily pricing
In the case of the Charity Select UK Equity Fund, the fact
that it is a registered charity means no stamp duty is paid on
the purchase of UK equities within the fund, thus enhancing
the potential returns for investing charities.
Charity Select UK Equity Fund
The objective of the Fund is to provide capital growth
through investment in companies that are either quoted on
one of the main UK stock exchanges, are registered in the
United Kingdom, or have a significant proportion of their
Charity Select UK Bond Fund
The Fund aims to maximise total returns by investing the
majority of the Fund’s assets in investment grade UK debt
and Debt-Related Securities. The Fund may also invest up to
20% in sub-investment grade debt. The Investment Manager
may invest directly or via Collective Investment Schemes to
achieve the desired asset allocation.
Charity Select Global (ex UK) Equity Fund
The investment objective of the Fund is to provide long-term
total return from an internationally diversified portfolio of
equities, but not including UK equities.
Further information on our three CIFs is contained within the
Scheme Particulars and Application Forms.
Charity Select UK Property Fund
Aberdeen are in the process of developing a property fund
that will invest in both UK and Europe. Launch of this fund is
expected in early 2009.
CIF Advisory Board
The CIFs have an Advisory Board who act as the independent
trustees of the funds. Our advisory board is comprised of
six outstanding independent professionals, whose expertise
in the charity and finance sector provides an invaluable
resource. Information on the current members of the
advisory board can be found on our charities website:
Our Investment Process
Aberdeen’s mainstream equity process dates from the early
1990s, and we believe its advantage lies in the consistency
of its approach, irrespective of market conditions. We aim
to add value by identifying good quality securities, defined
chiefly in terms of management and business model, and
which are attractively priced. Our mainstream equity
managers always visit companies before investing, making
thousands of trips annually to existing and prospective
holdings. We downplay benchmarks in portfolio construction
since these provide little clue to future performance.
We employ over 110 equity investment professionals, based
globally. Portfolio decisions are made collectively, and we
avoid cultivating ‘star’ fund managers. Cross-coverage of
securities also increases objectivity and lessens reliance on
Diversification at the stock level is our main control of risk.
We aim to add value by capitalising on original research.
We see equity risk in terms of investing in a poor quality
company, or overpaying for a good one.
We offer a wide range of well-structured property
investment vehicles that provide strong risk-adjusted returns
and a choice of geographic and sector allocation. In addition
to funds holding direct property, Aberdeen has pioneered
the development of funds of property funds, with exposure
to Continental Europe and Asia. Active management, topclass
research, local presence and a rigorous investment
process are the means by which we add value to property
With the acquisition of Deutsche Asset Management in
2005, Aberdeen inherited a tested fixed income process that
dates back to the 1980s. Its core characteristics are a focus
on proprietary research, and identifying opportunities with
attractive risk-reward characteristics. Our discrete alpha
teams cover five areas of expertise, each of which operates
independently of the other. These specialties are: investment
grade credit, high yield, emerging market debt, interest rates
We employ over 100 investment professionals across
our teams. We aim to add value by exploiting market
inefficiencies and we have dedicated portfolio managers
and analysts in the three main time zones. They operate as
close-knit teams, with investment decision-making devolved
to specialists, based on their knowledge and expertise.
We also use derivatives, such as interest rate and credit
default swaps, to add value and also to match liability
exposures. We have had a robust platform for trading OTC
derivatives since 2001.
When employing a variety of different investment strategies,
our experienced central teams co-ordinate the risks, setting
risk budgets and allocating risk to the various strategies. We
therefore ensure that we meet our client’s risk requirements
whilst delivering performance across the full range of our
fixed income capabilities.
Specialist Investment Opportunities
Socially Responsible Investing
At Aberdeen, we recognise that many clients – in
particular charities and family foundations – appreciate the
importance of Socially Responsible Investing (SRI) and want
their portfolios to have an ethical bias.
We have a specialist SRI team with a long-standing
reputation as experts in this field. Our SRI investments aim
to achieve long-term capital appreciation whilst taking into
account social, ethical and environmental criteria.
In the UK we offer two ethical funds: Aberdeen Ethical
Engagement UK Fund and Aberdeen Ethical World Fund.
For larger charities we can offer tailored portfolios to meet
specific clients’ needs, screening for a bespoke range of
Alternative asset classes
Charities wanting to increase the diversity of their
investments may wish to include a variety of asset classes
within their portfolio. Aberdeen is a skilled multi-asset
manager. In addition to the core asset classes of equities
and fixed income, we are experts in the creation of
portfolios comprising alternative asset classes such as
property, private equity, infrastructure, commodities, hedge
funds and currency.
The principle attraction of multi-asset investing is that it
offers true portfolio diversification. In many cases the asset
classes are not correlated to each other, meaning that they
move in different directions at different times in the market
cycle. This lack of correlation lessens volatility within a
multi-asset portfolio, providing the potential for superior
For larger charities we can create bespoke multi-asset
portfolios, but charities of any size can access our multiasset
expertise through our pooled funds, such as the
Aberdeen Multi-Asset Fund.
A Dedicated Team
We recognise that successful client relationships are about
more than investment performance. Whilst providing good
returns will always be our focus, we also commit significant
resources to excelling in client service through our dedicated
team approach. We also maintain contact with Central
Government and charity umbrella bodies in order to keep up
to date with any new legislation that might impact charities
throughout the UK.
A wealth of experience
Roger Curtis heads our charity client relationship team.
He takes a personal interest in each and every client
relationship. Roger has over 30 years’ experience in the
investment management industry. As an investment
director on the Aberdeen multi-asset team he is responsible
for investment strategies undertaken on behalf of clients.
This strategic insight, coupled with our understanding of
charities’ needs, ensures we offer our clients the most
appropriate investment solution.
Roger is supported by Victor Beamish, who is Chairman of
Charities. He focusses his expertise on providing our clients
with the personal service they require and deserve.
Aberdeen’s Chief Investment Officer, Anne Richards, and
Head of Global Strategy, Mike Turner, determine the
strategies employed by our investment professionals in
creating segregated portfolios. Our Common Investment
Funds draw on the specialist expertise of our equity and
fixed income teams.
Underpinning our high levels of service are the charities’
client service team who ensure that our clients’
administration and reporting requirements run smoothly.
These individuals have worked with charities for many years
and bring a great deal of expertise to our offering.
Head of Charities
Tel: 020 7463 6158
Tel: 01224 425 225
Visit Us Online
Our dedicated charities website also provides a
comprehensive source of information. Please take a moment
to visit us at www.aberdeen-asset.com/charities or email our
charities team at email@example.com
To receive information on our charity range, please register
for our email services at: www.aberdeen-asset.com/