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Constitution and Membership for 2016-17
Number in brackets to the right-hand side of a committee member’s name indicates length of continuous service in years, up to and including the 2015-16 session. Length of service is not indicated for ex officio and student members, or for observers.
|Treasurer (Chair)||Mr Simon Melliss|
|Director, Finance and Business Affairs||Mr Phil Harding|
Three External Members with investments expertise, appointed by Council
- Mr Chris Hills (1)
- Mrs Sarah Whitney (2)
- One vacancy
Ms Karen Milloy
Terms of Reference
Subject to any general or particular direction that may from time to time be given Finance Committee, the Investments Committee is charged by Finance Committee:
- According to powers delegated to the Investments
by Council through Finance Committee, to govern, manage and regulate the investments of UCL,
due account of the following provision of the UCL Statutes:
Subject to the conditions or provisions, if any, attached by the donor to any gift from which the same are derived, moneys and funds of the College may be invested in such stocks, funds, fully-paid shares or securities and investments as the Council shall from time to time think fit, whether within the United Kingdom of Great Britain and Northern Ireland or not, including the purchase of land of any tenure or any interest therein in the said United Kingdom: provided that in the case of moneys and funds held by the College as trustees the power conferred by this Statute shall be exercised subject to the provisions of the law relating to investment by trustees.
In particular to:
- recommend to Council the endorsement of the investment strategy and targets
- ensure the implementation of UCL's investment policy, consistent with UCL’s cashflow requirements
- monitor and review the asset allocations, risk tolerance, asset class ranges and frequency of re-balancing;
- monitor and review the case for including new asset classes or strategies;
- recommend changes to the strategic asset allocation in accordance with the above;
- determine from time-to time appropriate benchmarks, risk parameters and performance targets;
- monitor the performance of the investments and of its appointed investment manager and make recommendations to the Council related to performance;
- assist in the assessment and selection of investment managers and advisers, making recommendations to the Council.
- To consider advice received from the Ethical Investment Review Committee, in accordance with the terms of reference of that Committee, as to whether investment in a particular stock be continued or disposed of; or to consider such other action as the Ethical Investment Review Committee considers appropriate in the particular case.
- Where the Ethical Investment Review Committee considers investment in a stock to be unethical on grounds that require further consideration by the Investments Committee in accordance with the statement of ethical considerations set out in UCL’s investment policy, either (i) to endorse the advice received from the Ethical Investment Review Committee and arrange for the disposal of the particular stock or (ii) where the Investments Committee is unable to endorse the advice received from the Ethical Investment Review Committee, to refer the matter, jointly with the Ethical Investment Review Committee to Council for decision.
- To be accountable to Finance Committee by submission to the Finance Committee officers of the minutes of each meeting of the Investments Committee and with oral updates as necessary, and to provide an annual report to Finance Committee on performance and return of the investment portfolio.
- To report to Council by submission to the Council officers of the minutes of each meeting of the Investments Committee.
Meeting Dates 2016-17
- Tuesday 15 November 2016, 1.30pm
- Tuesday 28 February 2017, 1.30pm
- Tuesday 9 May 2017, 2.00pm
- Tuesday 8 August 2017, 2.00pm
Minutes of meetings of the Investments Committee are confidential to the Committee and are not available online.