Fund overview
The Rathbones Charity Growth & Income Fund has been designed to meet the long-term investment objectives of many UK charities. It aims to deliver a total return (the combination of income and capital growth) in excess of inflation (as measured by the UK Consumer Price Index (CPI)) +4% after fees, over any rolling 10-year period.
A total return approach
Many funds focus narrowly on income, which can leave charities exposed when yields fall or markets shift. The Rathbones Charity Growth & Income Fund is different because it:
- Targets both growth and income: combining capital appreciation with a reliable annual distribution.
- Provides flexibility: trustees can rely on a regular payment without being forced to chase high-yield assets.
- Aims to preserve capital for the future: ensuring that spending today doesn’t compromise long-term objectives.
Key benefits for charities
- Confidence in cash flow. A planned annual distribution you can build budgets around.
- Protection for reserves. A total return approach that seeks to grow and preserve capital.
- Ease of reporting. A simple, transparent fund structure that makes trustee oversight straightforward.
- Reassurance of scale. The stability and governance of one of the UK’s most established investment houses.
- Alignment with mission. Responsible investment fully embedded in the process.
How the fund invests
The portfolio is actively managed by Rathbones’ specialist multi-asset team, supported by the firm’s global research and risk management resources. We have decades of experience in multi-asset investing, constructing resilient portfolios that combine growth potential with stability. Investment decisions are guided by discipline and diversification:
- Equities for long-term growth and dividends.
- Bonds to help balance returns and provide stability.
- Diversifiers including alternatives to smooth performance across market cycles.
This broad mix is designed to support resilience, adaptability and alignment with the fund's dual objectives of growth and income.
Responsible by design
Charities expect their investments to reflect their mission. Rathbones has been at the forefront of responsible investment for decades, offering one of the UK’s longest-established ethical investment capabilities.
- ESG integration. Every investment decision considers environmental, social and governance factors.
- Active engagement. We vote and engage with companies to influence positive change.
- Alignment with values. Helping trustees demonstrate accountability to regulators, donors and beneficiaries alike.
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
For full details of the fund including the risks, please refer to the fund prospectus and Key Investor Information Document (KIID).
Charity Authorised Investment Fund (CAIF) structure
The fund is structured as a CAIF, a vehicle dually authorised by the Financial Conduct Authority (FCA) and Charity Commission. This structure ensures that charities can access institutional-quality investment management at a reasonable cost. This fund structure also tends to be administratively simpler for investors compared to a segregated portfolio. A key benefit is that the fund itself has charitable status, meaning it retains the same tax benefits as its underlying investors.
Sign up for our newsletter
If you would like to receive our e-newsletter, Charity Matters, with thought leadership and the latest news articles, you can subscribe here.