Investment Policy Statement


The Fund holds a balanced portfolio of pooled and direct investments which are professionally managed in a way designed to maintain their real value over time and to provide a sustainable return to fund its grant making activities. The performance of the investments, and the Fund’s professional investment managers, are reviewed by the trustees on a regular basis.

To meet the core objective of supporting surgical research the Fund seeks to produce the best possible financial return subject to an acceptable level of risk. The trustees balance this need for a good return with the need to avoid investing in businesses which, in the judgement of the trustees, undertake activities which might reasonably be regarded as injurious to individuals or society in general, and which the trustees believe conflict with the aims of the Fund. To this end the trustees have placed tight restrictions on investments in certain sectors (e.g. tobacco) and, subject to their meeting other investment criteria, seek to maintain a complementary element of investments in positive ESG funds. For further details on our investment policy please contact the Secretary to the trustees at

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