New name for CAF's Common Investment Funds
Howard Lake | 31 December 2003 | News
Charities Aid Foundation (CAF) is renaming its Common Investment Funds to reflect better their underlying assets.
From 1 January 2004, the CAF Balanced Growth Fund will be re-titled the CAF UK Equity Growth Fund, and the CAF Income Fund will be re-titled the CAF Bond Income Fund.
Both Funds have been specifically designed to meet the investment needs of
small to medium-sized charities. The name change, which, says CAF, follows a general shift in the financial services industry, will make the nature of the Funds’
underlying assets more transparent.
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Paul Myners, Chairman of the Funds’ Trustees, said: “This decision is consistent with our belief in ‘truth in labelling’.
It is also consistent with our intention to launch further funds where we will always ensure that the name of the fund correctly identifies the nature of the underlying portfolio investments.”
Established in 1987, around 600 charities invest nearly £0.5 billion in the CAF UK Equity Growth Fund and the CAF Bond Income Fund. Deutsche Asset Management has been the investment manager of both Funds since 1997.
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.