Investment information and policies

J Clarke made this Freedom of Information request to Exeter College, Oxford

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Dear Exeter College, Oxford,

This is a request for information through the Freedom of Information Act.

1. What was the total market value of the institution's endowment funds and any other investment portfolios on 22 October 2018? If you are going to provide this information through your annual accounts, can you provide the specific page with the relevant figure highlighted.

2. On 22 October 2018, were the institution's endowment funds and any other investment portfolios managed directly by the institution, or indirectly by (an) external fund manager(s), or a combination of both?

3. If the institution uses external fund manager(s) to manage any endowment funds or other investment portfolios, please provide the name of each fund manager used, along with the % of the total endowment funds that they were managing on 22 October 2018. If the institution uses several fund managers, please list each fund manager name separately along with the % of the institutions total endowment and investment portfolio that they manage.

4. Does the institution invest directly in companies?

5. If the institution invests directly, please provide the details of what the institution invests in (by way if endowment or other investment portfolios), including the full names of each company invested in, and the market value invested in each company on 22 October 2018?

Please provide this information in a spreadsheet format.

6. If the institution holds investments through an external fund manager, please provide the investment portfolio for that manger from 22 October 2018, including the market value for each of their investments?

Please use a spreadsheet to provide the information and please use the format shown in this example: https://docs.google.com/spreadsheets/d/1...

7. Does the institution have an ethical investment policy, or similar? If so, please state if it is publicly available, and provide a web link. If it is not publicly available, please provide a copy.

Please could you confirm the receipt of this request?

Yours faithfully,

J Clarke

Exeter College Freedom of Information, Exeter College, Oxford

The Academic Office is now closed for Good Friday and Easter Monday, and
will re-open on Tuesday 23rd April 2019.

 

With best wishes,

Exeter Academic Office

 

Exeter College Freedom of Information, Exeter College, Oxford

Dear J Clarke,

Thank you for your email of Friday 19th April 2019.

Your request is being dealt with under the terms of the Freedom of Information Act 2000 and will be answered within twenty working days, taking in to account the May Bank Holiday.

With best wishes,

Academic Office
Exeter College
Oxford
OX1 3DP
+44 (0)1865 279665
Registered charity no. 1141333

show quoted sections

William Jensen, Exeter College, Oxford

1 Attachment

Dear Mr Clark

 

In response to your request for information under the Freedom of
Information Act, please find the answers below and in the document
attached.

 

1. What was the total market value of the institution's endowment funds
and any other investment portfolios on 22 October 2018? If you are going
to provide this information through your annual accounts, can you provide
the specific page with the relevant figure highlighted.

 

Answer: The total market value of the Exeter College endowment on 22
October 2018 was £72,108,767. This includes directly-held property and
farmland investment.

 

2. On 22 October 2018, were the institution's endowment funds and any
other investment portfolios managed directly by the institution, or
indirectly by (an) external fund manager(s), or a combination of both?

 

Answer: Exeter College manages its endowment through and investment
committee which makes decisions on actions in the endowment. It is advised
by Sand Aire Limited (Sandaire).

 

3. If the institution uses external fund manager(s) to manage any
endowment funds or other investment portfolios, please provide the name of
each fund manager used, along with the % of the total endowment funds that
they were managing on 22 October 2018. If the institution uses several
fund managers, please list each fund manager name separately along with
the % of the institutions total endowment and investment portfolio that
they manage.

 

Answer: As noted above, Exeter College takes strategic and tactical advice
from a single investment adviser, Sandaire. The College invests in funds
which are managed by the individual fund operators in line with their
investment mandates, so in that respect the College uses numerous fund
managers. The details are as in the answer to question 6 below.

 

4. Does the institution invest directly in companies?

 

Answer: As a matter of principle, Exeter College does not invest in
individual companies; it uses collective investments – funds. However, the
Endowment does have two individual company investment which were gifts to
the College, but these are exceptions.

 

5. If the institution invests directly, please provide the details of what
the institution invests in (by way if endowment or other investment
portfolios), including the full names of each company invested in, and the
market value invested in each company on 22 October 2018?

 

Please provide this information in a spreadsheet format.

 

Answer: as explained in answer to 5, above, the Endowment holds only two
individual listed company investments, which are:

 

102,500 Abcam Plc Common Stock     Value at 22 October 2018 was £1,274,075

175 BP Ord USD0.25                           Value at 22 October 2018 was
£963.90

 

6. If the institution holds investments through an external fund manager,
please provide the investment portfolio for that manger from 22 October
2018, including the market value for each of their investments?

 

Please use a spreadsheet to provide the information and please use the
format shown in this example:
https://docs.google.com/spreadsheets/d/1...

 

Answer: The individual funds, equities and fixed interest securities held
in the Exeter endowment and their value at 22 October 2018 are as
scheduled in the attached spreadsheet.  The College does not use the
classification system in your sample portfolio. At the date of 22 October
2018 the College endowment also held £10,050,434 in cash, deposited with
various banks.

 

7. Does the institution have an ethical investment policy, or similar? If
so, please state if it is publicly available, and provide a web link. If
it is not publicly available, please provide a copy. I trust

 

Answer: Exeter College does not have an ethical investment policy.

 

I trust this address your request, but if not, please let me know.

 

Yours sincerely

 

William Jensen

 

William Jensen

Finance & Estates Bursar

Exeter College, Oxford, OX1 3DP

Registered charity number 1141333

Tel: +44 (0)1865 279628

Fax: +44 (0)1865 279630

E-mail: [email address]

 

Director – Collexoncotoo Limited

Director – Exeter College Trading Ltd

Director – Exeter College Yew Tree Hill Development Company Ltd

 

 

From: J Clarke [[1]mailto:[FOI #569764 email]]

Sent: 19 April 2019 17:33

To: Exeter College Freedom of Information <[2][Exeter College, Oxford request email]>

Subject: Freedom of Information request - Investment information and
policies

 

Dear Exeter College, Oxford,

 

This is a request for information through the Freedom of Information Act.

 

1. What was the total market value of the institution's endowment funds
and any other investment portfolios on 22 October 2018? If you are going
to provide this information through your annual accounts, can you provide
the specific page with the relevant figure highlighted.

 

2. On 22 October 2018, were the institution's endowment funds and any
other investment portfolios managed directly by the institution, or
indirectly by (an) external fund manager(s), or a combination of both?

 

3. If the institution uses external fund manager(s) to manage any
endowment funds or other investment portfolios, please provide the name of
each fund manager used, along with the % of the total endowment funds that
they were managing on 22 October 2018. If the institution uses several
fund managers, please list each fund manager name separately along with
the % of the institutions total endowment and investment portfolio that
they manage.

 

4. Does the institution invest directly in companies?

 

5. If the institution invests directly, please provide the details of what
the institution invests in (by way if endowment or other investment
portfolios), including the full names of each company invested in, and the
market value invested in each company on 22 October 2018?

 

Please provide this information in a spreadsheet format.

 

6. If the institution holds investments through an external fund manager,
please provide the investment portfolio for that manger from 22 October
2018, including the market value for each of their investments?

 

Please use a spreadsheet to provide the information and please use the
format shown in this example:
[3]https://docs.google.com/spreadsheets/d/1...

 

7. Does the institution have an ethical investment policy, or similar? If
so, please state if it is publicly available, and provide a web link. If
it is not publicly available, please provide a copy.

 

Please could you confirm the receipt of this request?

 

Yours faithfully,

 

J Clarke

 

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