Charity news in brief - February 2008

Finance | Gareth Jones | 1 Feb 2008

OLIM launches new CIF

OLIM has launched the Charity Value and Income Fund, a new common investment fund which will invest in high yielding UK equities. The fund will be lead managed by Patrick Harrington, and will aim to give a yield one third higher than that from the companies in the FTSE All Share Index.

ACCA and Charity Commission reach understanding

The Association of Chartered Certified Accountants (ACCA) and the Charity Commission have signed a memorandum of understanding, providing a framework for joint working between the two bodies. It creates a protocol for the Commission to refer cases of poor practice by ACCA members acting for, or employed by, registered charities to ACCA for review through its monitoring or investigatory processes as appropriate. In addition, ACCA will refer matters of interest to the Commission.

Yorkshire Forward invests £10 million in regional charity bank

Yorkshire Forward has invested £10 million in a regional charity bank to support third sector organisations in Yorkshire and Humber. This investment in a regional office of Charity Bank, a national organisation that aims to support social enterprise, is the first of its kind by a Regional Development Agency. The investment will improve the resource base for local community enterprise by providing access to loan finance. It will also help to counter the effects of the new European Funding programme, which will significantly reduce the level of funding available for community economic development.

ChangeUp hubs to be replaced by four National Support Services

Capacitybuilders is proposing to replace the six ChangeUp hubs with four National Support Services on the themes of finance, performance, workforce and the new area of voice. In its draft tender document Capacitybuilders has also said it eventually wants to create a single website that serves as a gateway to all forms of infrastructure support for third sector organisations.

Directory: Capacitybuilders | Charity Commission | Olim Investment Managers
Who's Who: Gareth Jones

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