Endowments Sub-Committee

Membership

The membership is noted below and will comprise the Convener of the Finance and Policy Committee, one other Court member, the DUSA president and a minimum of one other lay member with relevant experience. The Director of Finance, Deputy Director of Finance and other University officers, as appropriate, shall be invited to attend meetings.

Meetings

Scheduled as required and a minimum of two meeting per academic year.  Notice of no less than 7 days shall normally be given for meetings, although by exception this may be waived in the case of urgent/emergency business with the agreement of the Sub-Committee.  

Responsibilities

1. Have oversight of endowment funds with reference to their original purpose and current use of funds.
2. Ensure legal requirements are adhered to, including the Office of the Scottish Charity Regulator (OSCR).
3. Ensure University policies are adhered to, including implementation of any policy restrictions affecting investment strategy.
4. Advise Finance and Policy Committee on investment strategy, including objectives in the management of funds invested and the appropriate balance between capital growth and income.
5. Take advice, as necessary, on investment strategy in line with University policies and to recommend an investment strategy to meet investment objectives.
6. Appoint external investment fund managers and monitor performance against agreed targets and benchmarks.
7. Monitor the internal financial management of endowment funds, including the capital growth, income, expenditure and unexpended revenue of funds.

Membership 2024/25

• Convener of the Finance and Policy Committee
• One other Court member
• DUSA President
• One independent member

Officers in Attendance 2024/25

• Director of Finance
• Deputy Director of Finance
• Head of Financial Accounting
• Financial Accountant for Treasury
• Director of External Relations
• Investment Fund Managers