Aberdeen Standard Capital (ASC) has announced its biggest charity strategic partnership to date by securing the CAF Financial Solutions Limited (CFSL) mandate of c. £200m. CFSL is a subsidiary of the Charities Aid Foundation (CAF). ASC and CAF signalled their intent to work together in November and this mandate announcement marks the first significant milestone for the partnership. CAF provides financial services, advice and support to UK and International charities and their donors.
Following a robust selection process, ASC has been chosen to be the investment manager of an existing range of CAF Funds and the CAF Managed Portfolio Service (MPS) which uses these funds. The relationship will also focus on future fund developments.
With experience in charitable investment for the last 20 years, the ASC specialist charity team has enjoyed significant growth in recent years by offering a range of highly tailored segregated or pooled solutions including those with a more specific impact or climate focus.
Laurence Gagen, Head of Charities, London at ASC said:
“We are excited to partner with the Charities Aid Foundation and their clients through the IFSL CAF Funds and the Managed Portfolio Service. CAF has such a strong reputation in the charity sector and together we can be genuinely disruptive within the charity and donor investment space.
“Our specialist team has been investing responsibly for charities, delivering strong investment outcomes through portfolios that align with client values and positively benefit people and the planet. This partnership signifies a step change in our presence in the charity sector with our biggest ever mandate award.”
Richard Charnock, CEO of ASC, added:
“We’re delighted to be working with Charities Aid Foundation and look forward to bringing investment excellence and innovation to the charity investment market.
“This announcement represents an important development in the growth of our charity business and demonstrates the importance of this sector to us while acknowledging the benefits it brings to wider society.”
Bridgit Richards, Director of Philanthropy, Product & Marketing and CEO of CFSL at the Charities Aid Foundation commented:
“We are excited about the opportunities that the new relationship with ASC offers our charity and private clients. ASC’s long history of being on the side of charitable organisations, combined with their excellence in investment management made them a clear choice when looking for a new home for the IFSL CAF funds and our Managed Portfolio Service.”