Communities Minister Carál Ní Chuilín has appointed Shane Lynch and Andrew Turner as members to the NI Central Investment Fund for Charities - Advisory Committee from 1 October 2020 for a period of up to four years.
The Committee is responsible for guiding the Department’s investment policy for the Northern Ireland Central Investment Fund for Charities.
The Northern Ireland Central Investment Fund for Charities was set up in March 1965 as a result of the Charities Act (NI) 1964. The fund aims to give trustees the opportunity to invest all or part of their assets with the benefit of expert supervision. Recognised fund managers (currently Aberdeen Standard Capital) are responsible for the day to day management of the actual portfolio, but the fund’s investment policy is guided by an Advisory Committee. The fund operates much as a Unit Trust. Participating charities pool their resources and are given a proportionate number of shares in the Fund based on the most recent valuation.
All appointments are made on merit and political activity plays no part in the selection process. However, CPA NI requires the political activity of appointees to be published.
Notes to editors:
1. Biographical details:
Mr Shane Lynch
Mr Lynch is a qualified engineer and also holds an MSc in Finance and Investment. He has worked across the private, pubic and voluntary sectors, including as the Chief Executive Officer of the Utility Regulator, through which he has experience of constructively challenging utility providers, and as a Chairman of a Pension Fund Board of Trustees for six years. Through this fund he has experience of managing a private sector fund for the benefit of its members, in line with a trust deed and pension legislation. He holds no other public appointments and has had no political activity in the last five years
Mr Andrew Turner
Mr Turner's background is 20 years in the financial markets, where as a "certified person's” under the Financial Conduct Authority regime he focuses on fixed income securities. As well as being on the sell-side as a trader he was also on the buy-side as the sole portfolio manager on a debt fund covering hard and local currency debt. In the last five years he has undertaken political activity for the Conservative Party and he holds no other public appointments.
2. Member positions on the Committee are not remunerated but attract travel allowances.
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