32. Cazenove and the Water Conservation Trust, December 9, 2021

The Company and its charity, The Water Conservation Trust are committed to taking steps to reduce their impact on climate. Since its foundation in 1991, the Trust has funded water and environmental education in schools and universities, in the latter case assisting over 150 graduates to achieve Master Degrees on courses and subjects at the heart of our Livery commitment to benefit the environment.

The Trust has a fund of about £700,000 split between two investment houses. Over the last eighteen months, the Trustees have reviewed the portfolios and decided both must change to reflect better the Company’s aspirations. The first offered an ‘Ethical’ portfolio with a comparable return – something that Trustees have a duty to maximise – at an effectively no-cost transfer. This was done at the beginning of July 2021. The second investment house could not offer a satisfactory alternative and a replacement was sought. After an exhaustive (and exhausting) search by Hon Sec Christine Duthie, the decision was taken to move to Cazenove Capital in November 2021. On December 9, Cazenove held their half-day Charity Investment Forum which provided a reassurance that Trustees had moved to the right place.

At the conclusion of the Forum, Professor Brian Cox, professor of particle physics in the School of Physics and Astronomy at Manchester University gave a 30-minute lecture on how the world began and how it will end. This was well received and provided a small relief from the burden placed on trustees these days.

The Water Conservation Trust has just filed its Annual Report and Accounts for 2020-21. These are available on the Charity Commission website by entering charity number 1007648.


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