The Prince’s Trust has joined forces with the City to launch an investment fund which makes tax-friendly donations to charity.
The Prince’s Trust has joined forces with the City to launch an investment fund which makes tax-friendly donations to charity.
The fund, Invest & Give, which launches on Monday, will pay part of the investors’ annual costs to the Prince’s Trust, and this will be boosted by tax relief from the Government.
This is the first investment fund to be able to apply the Gift Aid rules to funds it receives from investors. These have until now been reserved for cash donations to charities from people signing a declaration to confirm they are UK taxpayers. The new scheme required special authorisation from HM Revenue & Customs.
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The manager of the fund, John Husselbee from the investment boutique, North Investment Partners, has 20 years’ experience in the fund-of-funds sector and he will invest across asset classes, regions and investment funds.
Invest & Give will be launched as part of the UK’s £10 billion balanced managed investment sector. The sector, which is considered to be cautious, has attracted contributions of nearly £1 billion in the last year despite stock market apathy.
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