Aberdeen wins biggest ever charities mandate
Richard Charnock: ‘important development’
Aberdeen Standard Capital (ASC) has secured the £200 million CAF Financial Solutions Limited (CFSL) mandate – its biggest-ever charity strategic partnership.
CFSL is a subsidiary of the Charities Aid Foundation (CAF). ASC and CAF signalled their intent to work together in November and this mandate announcement marks the first significant milestone for the partnership.
CAF provides financial services, advice and support to UK and International charities and their donors.
Following a robust selection process, ASC has been chosen to be the investment manager of an existing range of CAF Funds and the CAF Managed Portfolio Service (MPS) which uses these funds. The relationship will also focus on future fund developments.
Richard Charnock, CEO of ASC, said: ““This announcement represents an important development in the growth of our charity business and demonstrates the importance of this sector to us while acknowledging the benefits it brings to wider society.”