Investing for the Public Benefit: A New Proposal in the Charitable Sector May Not End There

When a coalition of charities sent a letter to the Attorney-General for England and Wales in early March, it caused a stir in the charitable sector but aroused little notice beyond. Its implications, however, may be more far-reaching than they appear. The charities, which included three Sainsbury family trusts, the Quakers, the Joseph Rowntree Charitable Trust, and the National Council of Voluntary Organisations – which has 14,000 member organisations – explained in their letter that existing legal guidance on investment of charitable funds by charity trustees is outdated and insufficient.

IFCs Working Together for a Be…