The Charity Commission has today published two revised model schemes for common investment funds following a consultation this summer.

The regulator will now only establish any new common investment funds (CIFs) using these model schemes, which have been developed to ensure that CIFs are compliant with the implementation of the Alternative Investment Fund Managers Directive.

Existing and new CIFs will be under dual regulation by the Charity Commission and the FCA. The Charity Commission only regulates CIFs as charities and the FCA regulates the funds as investment funds through its role in regulating the managers of alternative investment funds.


Jane Hobson, head of policy at the Charity Commission said;
“The process of consultation was extremely helpful and we noted  the consensus from  contributors that CIFs are considered to be a useful investment vehicle, especially for small and medium sized charities which may otherwise be unable to access charity investment expertise.”

The revised schemes can be viewed on the Commission’s website.