Regulations for Committees Reporting Directly to Council or one of its Main Committees
Council Regulations 15 of 2002
Made by Council on 26 June 2002
Part 23: Investment Committee
Amended on 1 March 2007, 18 March 2010, 12 May 2011, 20 December 2013 (Gazette, Vol.144, p.170-172, 5 December 2013) and 1 March 2019 (Gazette, Vol.149, p.290, 14 February 2019).
Renumbered on 28 July 2011
23.1. The Investment Committee shall consist of:
(1) the Vice-Chancellor;
(2)-(6) at least five external persons appointed by Council, all of whom shall bring recent and relevant expertise of investment management to the working of the committee, and one of whom shall be appointed by Council to serve as chairman of the committee;
(7)-(8) up to two other members appointed by Council who shall have recent and relevant expertise of investment management.
23.2. The Director of Finance and the Chief Investment Officer of Oxford University Endowment Management Ltd ("OUEM") shall normally be in attendance at the meeting of the committee, but shall not have the right to vote.
23.3. The members of the committee appointed at 23.1 (2)-(8) above shall serve for five years and shall be re-eligible for reappointment for one further period of up to five years. Casual terms of office shall not count towards this limit.
23.4. Notwithstanding regulation 23.3 above, the General Purposes Committee of Council may determine that further consecutive periods are permitted in an individual case.
23.5. The committee shall be responsible for the strategic oversight and supervision of all funds invested by, or for the benefit of, the University (including any funds placed with the University by external bodies), except:
(1) those investments which Council determines to be the responsibility of the Finance Committee or other bodies; and
(2) those held by Societies or the Press.
23.6. In particular, the committee shall be responsible for:
(1) recommending to Council suitable investment objectives and, where relevant, distribution policies for the investments under its remit, currently The Oxford Funds: Collegiate Feeder Units; The Oxford Funds: OCF Units; the Strategic Capital Account; the Venture Fund (“the Funds”);
(2) setting, where appropriate, investment policies, benchmarks, risk guidelines and investment restrictions for the Funds taking into account the agreed objectives and policies as set out in 23.7 (1) and including those relating to socially responsible investment;
(3) advising Council, or such other body as Council might direct, on implications of specific socially responsible investment-related proposals with regard to any potential impact on the investment objective or strategy of the investments under its remit;
(4) evaluating, where relevant, the performance of the Funds against investment objectives and agreed benchmarks and oversight and monitoring of compliance with all policies and guidelines (including those relating to socially responsible investment) relevant to the Funds;
(5) advising the Board of OUEM in the recruitment, support and appraisal of the Chief Investment Officer of OUEM and monitoring his or her performance;
(6) working with OUEM Ltd to agree the fees to be paid by the Funds;
(7) reporting to Council at least annually on the matters above and on such other matters as the committee sees fit.