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University Investment Portfolio Statistics

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To whom it may concern,

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

1. What was the total market value of the university’s investment portfolio(s) on the 31st July 2021? If you are going to provide this information through your Annual Accounts/Financial Statements, please provide the specific page number, section and row that the value can be found on. For example, page 28, section 5 “Investments”, line “overall investment value”.

2. On the 31st July 2021, were the institution's investment portfolio(s) managed directly by the institution, indirectly by [an] external fund manager(s), or a combination of both?

3. If the university uses external fund manager(s) to manage investment portfolios, please provide the name of each fund manager used, along with the percentage of the total investment funds that they were managing on the 31st July 2021.

Please present this information in this format:
Fund manager name -- Percentage of total investment funds managed
Schroders -- 47%
CCLA -- 49%
University -- 4%

4. If the institution invests directly, please provide the details of companies invested in (by way of all investment portfolios), including the full names of each company invested in, and the market value invested in each company on the 31st July 2021. Please provide this information in a spreadsheet format.

5. If the university holds investments through [an] external fund manager(s), please provide the investment portfolio for that manager on the 31st July 2021, including the market value for each company that forms part of your investment portfolio(s) with them. Please provide this information at a company level in a spreadsheet and/or the format that this information is provided to you by your fund manager(s). For example, see here: https://www.whatdotheyknow.com/request/1...

6. 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 applicable, in response to any of the above information requested, please confirm that the University does not hold this information.

Please confirm receipt of this request and we look forward to hearing back from you within the next 20 working days.

Yours sincerely,

Laura Clayson

Information Compliance Shared mailbox, Bangor University

Diolch am eich neges. Mae staff y Brifysgol yn gweithio o adref ar hyn o
bryd, ac oherwydd hynny, y dull gorau o gysylltu â ni fydd drwy e-bost.
Byddwn yn ymateb mor fuan â phosib i'ch ymholiad.

 

Ar gyfer ymholiadau'r Iechyd a Diogelwch cysylltwch â
[1][email address]

 

Ar gyfer ymholiadau’r Mewnfudo cysylltwch â [2][email address]

 

Ar gyfer ymholiadau sy’n gysylltiedig â Rhyddid Gwybodaeth cysylltwch â
[3][Bangor University request email]

 

Ar gyfer ymholiadau yn ymwneud â chwynion cysylltwch â
[4][email address]

Ar gyfer ymholiadau yn ymwneud ag apeliadau academaidd cysylltwch  â 
[email address]

 

 

Diolch,

Gwenan

 

 

Thank you for your message. The University's staff are currently working
from home and therefore the best way to contact us is by e-mail. We will
respond to your enquiry as quickly as possible.

 

For Health and Safety enquiries, please contact
[5][email address]

 

For enquiries relating to Immigration, please contact
[6][email address]

 

For enquiries relating to Freedom of Information, please contact
[7][Bangor University request email]

 

For enquiries relating to Complaints, please contact
[8][email address]

 

For enquiries relating to Academic Appeals, please contact
[9][email address]

 

Thank you.

 

 

Gwenan

 

Mae croeso i chi gysylltu gyda'r Brifysgol yn Gymraeg neu Saesneg

You are welcome to contact the University in Welsh or English

Rhif Elusen Gofrestredig 1141565 - Registered Charity No. 1141565

Gall y neges e-bost hon, ac unrhyw atodiadau a anfonwyd gyda hi, gynnwys
deunydd cyfrinachol ac wedi eu bwriadu i'w defnyddio'n unig gan y sawl y
cawsant eu cyfeirio ato (atynt). Os ydych wedi derbyn y neges e-bost hon
trwy gamgymeriad, rhowch wybod i'r anfonwr ar unwaith a dilewch y neges.
Os na fwriadwyd anfon y neges atoch chi, rhaid i chi beidio a defnyddio,
cadw neu ddatgelu unrhyw wybodaeth a gynhwysir ynddi. Mae unrhyw farn neu
safbwynt yn eiddo i'r sawl a'i hanfonodd yn unig ac nid yw o anghenraid yn
cynrychioli barn Prifysgol Bangor. Nid yw Prifysgol Bangor yn gwarantu bod
y neges e-bost hon neu unrhyw atodiadau yn rhydd rhag firysau neu 100% yn
ddiogel. Oni bai fod hyn wedi ei ddatgan yn uniongyrchol yn nhestun yr
e-bost, nid bwriad y neges e-bost hon yw ffurfio contract rhwymol - mae
rhestr o lofnodwyr awdurdodedig ar gael o Swyddfa Cyllid Prifysgol Bangor.

This email and any attachments may contain confidential material and is
solely for the use of the intended recipient(s). If you have received this
email in error, please notify the sender immediately and delete this
email. If you are not the intended recipient(s), you must not use, retain
or disclose any information contained in this email. Any views or opinions
are solely those of the sender and do not necessarily represent those of
Bangor University. Bangor University does not guarantee that this email or
any attachments are free from viruses or 100% secure. Unless expressly
stated in the body of the text of the email, this email is not intended to
form a binding contract - a list of authorised signatories is available
from the Bangor University Finance Office.

References

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9. mailto:[email address]

Information Compliance Shared mailbox, Bangor University

Our Ref. FOI2391

 

Dear Laura Clayson,

 

Thank you for your Freedom of Information request, received by email on
the 1^st October 2021.

 

We will now consider your request and you will receive the information
requested within the statutory timescale of 20 working days, as defined by
the Freedom of Information Act 2000, subject to the information not being
exempt or containing reference to a third party.

 

For your information, the Act defines a number of exemptions which may
prevent release of the information you have requested. There will be an
assessment, and if any of the exemption categories apply then the
information will not be released. You will be informed if this is the
case, including your rights of appeal.

 

If the information you requested contains reference to a third party, then
they may be consulted prior to a decision being taken on whether or not to
release the information to you. You will be informed if this is the case.

 

If you have any queries please contact us.

 

Kind regards,

Compliance Team

 

[1][IMG] Tîm Cydymffurfio Compliance Team

Llywodraethu a Chydymffurfio Governance and Compliance

Gwasanaethau Corfforaethol Corporate Services

E-bost: Email:
[2][Bangor University request email] [7][Bangor University request email]
Phone: 01248 388530
Ffôn: 01248 388530
Bangor University, Bangor,
Prifysgol Bangor, Bangor, Gwynedd, LL57 2DG
Gwynedd, LL57 2DG
Registered Charity: No. 1141565
Elusen Gofrestredig: Rhif 1141565
[8][IMG][9]@BangorUni
[3][IMG][4]@prifysgolbangor [10][IMG][11]/BangorUniversity
[5][IMG][6]/PrifysgolBangor

 

 

 

 

show quoted sections

Information Compliance Shared mailbox, Bangor University

Our Ref. FOI2391

 

Dear Laura Clayson,

 

Further to your request for information, the University's response is
below:

 

 

 

1. What was the total market value of the university’s investment
portfolio(s) on the 31st July 2021? If you are going to provide this
information through your Annual Accounts/Financial Statements, please
provide the specific page number, section and row that the value can be
found on. For example, page 28, section 5 “Investments”, line “overall
investment value”.

 

Managed funds in equities and fixed interest securities are:

 a. £6.949 m

 

 

2. On the 31st July 2021, were the institution's investment portfolio(s)
managed directly by the institution, indirectly by [an] external fund
manager(s), or a combination of both?

 

Managed funds are held with UBS Asset Management (UK) Ltd.

 

 

3. If the university uses external fund manager(s) to manage investment
portfolios, please provide the name of each fund manager used, along with
the percentage of the total investment funds that they were managing on
the 31st July 2021.

 

  UBS
31.07.21 6,949,000

 

 

4. If the institution invests directly, please provide the details of
companies invested in (by way of all investment portfolios), including the
full names of each company invested in, and the market value invested in
each company on the 31st July 2021. Please provide this information in a
spreadsheet format.

 

Invested in:

    

  31.07.2021
CVCP Properties 33,000
Laser Micromachinig 80,000
  113,000

 

 

5. If the university holds investments through [an] external fund
manager(s), please provide the investment portfolio for that manager on
the 31st July 2021, including the market value for each company that forms
part of your investment portfolio(s) with them. Please provide this
information at a company level in a spreadsheet and/or the format that
this information is provided to you by your fund manager(s). For example,
see here:
[1]https://eur01.safelinks.protection.outlo......

 

The University believes that this information is exempt under sections
41(1), 43(1) and 43(2) of the Act on the grounds that its disclosure would
constitute an actionable breach of confidence and its disclosure would be
likely to prejudice the commercial interests of the University and/or its
fund managers and/or the funds/companies in which it invests. The
University is subject to confidentiality agreements in relation to the
management of its investment. As Section 43(2) is a qualified exemption we
are required to carry out a public interest test to determine if the
commercial interest is over ridden by the public interest from a release
of the information concerned. The University has carefully considered the
balance of public interest in this instance with the confidentiality
interests to which it is bound and the commercial interests of its
investment managers which are protected thereby (which also ensure to the
benefit of the University through the services which the investments
managers provide to the institution). In particular, disclosure of the
information in question would be likely to weaken the position of the
University and its fund managers in a competitive environment and/or to
reveal commercially sensitive information of potential usefulness to other
investors. For example, disclosure would place in the public domain
information which would allow competitors to track and replicate the
investment strategies of the University and/or its investment managers.

 

 

Please note that the University has a formal complaints procedure. If you
are unhappy with the service you have received in relation to your request
and wish to make a complaint or request a review of our decision you
should write to the University’s Governance & Compliance Office in the
first instance ([2][Bangor University request email]) explaining the grounds
for your complaint. In line with guidance from the Information
Commissioner’s Office, an appeal request must be submitted within two
months of the University’s final response to this Freedom of Information
Act request.

 

Kind regards,

Compliance Team

 

[3][IMG] Tîm Cydymffurfio Compliance Team

Llywodraethu a Chydymffurfio Governance and Compliance

Gwasanaethau Corfforaethol Corporate Services

E-bost: Email:
[4][Bangor University request email] [9][Bangor University request email]
Phone: 01248 388530
Ffôn: 01248 388530
Bangor University, Bangor,
Prifysgol Bangor, Bangor, Gwynedd, LL57 2DG
Gwynedd, LL57 2DG
Registered Charity: No. 1141565
Elusen Gofrestredig: Rhif 1141565
[10][IMG][11]@BangorUni
[5][IMG][6]@prifysgolbangor [12][IMG][13]/BangorUniversity
[7][IMG][8]/PrifysgolBangor

 

 

 

 

 

show quoted sections

Information Compliance Shared mailbox, Bangor University

Apologies, the last question was omitted in error:

 

6. Does the institution have an ethical investment policy, or similar? If
so, please state if it is publicly-available, and provide a web link.

 

[1]SIPBU-Eng.pdf (bangor.ac.uk)

 

 

 

Kind regards

Compliance Team

 

From: Information Compliance Shared mailbox
Sent: 27 October 2021 13:29
To: [FOI #796330 email]
Subject: RE: Freedom of Information request - University Investment
Portfolio Statistics

 

Our Ref. FOI2391

 

Dear Laura Clayson,

 

Further to your request for information, the University's response is
below:

 

 

 

1. What was the total market value of the university’s investment
portfolio(s) on the 31st July 2021? If you are going to provide this
information through your Annual Accounts/Financial Statements, please
provide the specific page number, section and row that the value can be
found on. For example, page 28, section 5 “Investments”, line “overall
investment value”.

 

Managed funds in equities and fixed interest securities are:

 a. £6.949 m

 

 

2. On the 31st July 2021, were the institution's investment portfolio(s)
managed directly by the institution, indirectly by [an] external fund
manager(s), or a combination of both?

 

Managed funds are held with UBS Asset Management (UK) Ltd.

 

 

3. If the university uses external fund manager(s) to manage investment
portfolios, please provide the name of each fund manager used, along with
the percentage of the total investment funds that they were managing on
the 31st July 2021.

 

  UBS
31.07.21 6,949,000

 

 

4. If the institution invests directly, please provide the details of
companies invested in (by way of all investment portfolios), including the
full names of each company invested in, and the market value invested in
each company on the 31st July 2021. Please provide this information in a
spreadsheet format.

 

Invested in:

    

  31.07.2021
CVCP Properties 33,000
Laser Micromachinig 80,000
  113,000

 

 

5. If the university holds investments through [an] external fund
manager(s), please provide the investment portfolio for that manager on
the 31st July 2021, including the market value for each company that forms
part of your investment portfolio(s) with them. Please provide this
information at a company level in a spreadsheet and/or the format that
this information is provided to you by your fund manager(s). For example,
see here:
[2]https://eur01.safelinks.protection.outlo......

 

The University believes that this information is exempt under sections
41(1), 43(1) and 43(2) of the Act on the grounds that its disclosure would
constitute an actionable breach of confidence and its disclosure would be
likely to prejudice the commercial interests of the University and/or its
fund managers and/or the funds/companies in which it invests. The
University is subject to confidentiality agreements in relation to the
management of its investment. As Section 43(2) is a qualified exemption we
are required to carry out a public interest test to determine if the
commercial interest is over ridden by the public interest from a release
of the information concerned. The University has carefully considered the
balance of public interest in this instance with the confidentiality
interests to which it is bound and the commercial interests of its
investment managers which are protected thereby (which also ensure to the
benefit of the University through the services which the investments
managers provide to the institution). In particular, disclosure of the
information in question would be likely to weaken the position of the
University and its fund managers in a competitive environment and/or to
reveal commercially sensitive information of potential usefulness to other
investors. For example, disclosure would place in the public domain
information which would allow competitors to track and replicate the
investment strategies of the University and/or its investment managers.

 

 

Please note that the University has a formal complaints procedure. If you
are unhappy with the service you have received in relation to your request
and wish to make a complaint or request a review of our decision you
should write to the University’s Governance & Compliance Office in the
first instance ([3][Bangor University request email]) explaining the grounds
for your complaint. In line with guidance from the Information
Commissioner’s Office, an appeal request must be submitted within two
months of the University’s final response to this Freedom of Information
Act request.

 

Kind regards,

Compliance Team

 

[4][IMG] Tîm Cydymffurfio Compliance Team

Llywodraethu a Chydymffurfio Governance and Compliance

Gwasanaethau Corfforaethol Corporate Services

E-bost: Email:
[5][Bangor University request email] [10][Bangor University request email]
Phone: 01248 388530
Ffôn: 01248 388530
Bangor University, Bangor,
Prifysgol Bangor, Bangor, Gwynedd, LL57 2DG
Gwynedd, LL57 2DG
Registered Charity: No. 1141565
Elusen Gofrestredig: Rhif
1141565 [11][IMG][12]@BangorUni
[13][IMG][14]/BangorUniversity
[6][IMG][7]@prifysgolbangor
[8][IMG][9]/PrifysgolBangor

 

 

 

 

 

show quoted sections

Dear Bangor University,

I am writing to request an internal review of Bangor University's handling of my FOI request 'University Investment Portfolio Statistics'.

I would like to please request an internal review on the decision not to disclose market values at the company-level within the university's investment portfolios on the grounds that disclosure of such information "would
constitute an actionable breach of confidence and its disclosure would be likely to prejudice the commercial interests of the University".

Other institutions in the sector have willingly disclosed this information to us for analysis this year - and in the previous years that we have undertaken this annual research. This is in spite of the issues you have raised, indicating public interest around the transparency and accountability of public authorities outweighs the arguments for non-disclosure that you highlight.

Please let me know if there is anything more you need from me to support with the internal review process.

Please may I remind you that guidance published by the Information Commissioner's Office states internal reviews should ideally take no longer than 20 working days.

Kind Regards,
Laura Clayson

Information Compliance Shared mailbox, Bangor University

Our Ref. FOI2391

 

Dear Laura Clayson,

 

I am writing in relation to your request for an internal review of the
University’s response to your request under the FOIA issued on the 27th
October 2021. Firstly please accept my apologies that this review has
taken longer than we would have hoped, I have looked at our processes in
this regard and have put in place processes to ensure that reviews are
undertaken in line with the Information Commissioner’s Office guidance.

 

As per the University’s Freedom of Information Policy ([1]Freedom of
Information Act Policy v4.1 July 2021.pdf (bangor.ac.uk)) I have conducted
an independent investigation into the process undertaken in relation to
this freedom of information request. Having carefully considered the
evidence which has been provided to me, it is my view that due process has
been followed and I am satisfied that the Compliance Team has responded
appropriately to your request for information.

 

I am satisfied that the information you have requested is exempt from
disclosure under Section 43(2) of the Freedom of Information Act 2000 due
to the sensitivity of the investment strategy. Having due regard to the
public interest test which is relevant in relation to Section 43(2), and
which ensures openness and transparency, I believe that there is a greater
public interest in maintaining this exemption thus ensuring that Bangor
University continues to be able to achieve the best terms in relation to
commercial decisions made. A robust investment portfolio is one element of
strategic development which will ensure that the University is able to
compete in a competitive market and provide the best experience for its
students.

 

I am satisfied that our original response appropriately applied the
relevant exemption, and I am therefore upholding the decision already
communicated to you by the Compliance Team.

 

Kind regards

 

 

Anita Thomas

Legal and Compliance Manager
Governance Services

 

 

 

 

show quoted sections

We don't know whether the most recent response to this request contains information or not – if you are People & Planet please sign in and let everyone know.