Are you involved in a local charity?
Date published:
If you are looking at investment possibilities the Northern Ireland Central Investment Fund for Charities (NICIFC) is an option you may wish to consider.
NICIFC is a well-established Fund which has been operating for over 50 years. The Fund is managed by the Department for Communities through a recognised Fund Manager (currently Standard Life Wealth.) Its investment policy is guided by a locally based Advisory Committee appointed by the Department. The Fund invests in fixed-interest securities and selected equities, with the allocation of these reviewed and adjusted periodically, in line with the Fund’s investment policy.
The aim of the Fund is to provide an annual income along with long term capital growth. Established in 1965 through the Charities Act (Northern Ireland) 1964, the Fund aims to provide trustees with the opportunity to invest all or part of their Funds with the benefit of expert supervision.
The Fund currently has over 140 charities invested along with over 400 charitable donations and bequests. The Fund is currently valued at over £38 million.
Key features of the Fund:
- competitive management fee
- no additional charges
- no minimum investment
- dividend paid twice a year
Based on the definitions of risk determined by Standard Life Wealth, the portfolio is categorised as being managed with a higher medium risk approach. The value of any investment may go down as well as up, as can the income generated from it.
If you are interested in this Fund, further information is available.