Charity Commission is looking 'urgently' at social investment rules, says Francis Maude

Minister for the Cabinet Office says the commission may allow a social as well as a financial purpose for charitable investments

Charity Commission
Charity Commission

The Charity Commission is urgently looking at changing its guidance so that charitable foundations can invest their funds for a social as well as a financial return, according to Francis Maude, the Cabinet Office minister.

Maude was speaking yesterday at a conference on public service reform held by the RSA, a charity that fosters debate on social and political issues. Maude said the commission's rules meant philanthropic foundations were required to maximise the financial returns on their endowments.

"There are tens of billions of pounds in philanthropic organisations," he said. "This should be allowed to be used to generate mixed returns. I'm happy that the Charity Commission is looking at this urgently now."

In a statement, the commission said: "We are in contact with social investors and HM Revenue & Customs in relation to this issue, which will be covered in our new guidance on investment matters.

"We will be publishing this for consultation later this month and will consider all submissions before publishing the final guidance."

Kaye Wiggins recommends

Charity Commission

Read more

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +

Latest Jobs

RSS Feed

Third Sector Insight

Sponsored webcasts, surveys and expert reports from Third Sector partners

Markel

Expert Hub

Insurance advice from Markel

Digital fundraising tips and tricks

Digital fundraising tips and tricks

Partner Content: Presented By Markel

Third Sector Logo

Get our bulletins. Read more articles. Join a growing community of Third Sector professionals

Register now