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In 2008, The Trustees of the Mitchell, Welfare and Scholarship Funds (the ‘Funds’) decided to establish a Common Investment Fund to allow the investments held within those funds to be managed as one fund by the investment managers, Barclays Wealth. This makes it easier to diversify the investments and provide cost savings by reducing the costs of investment advice and management.
The Common Investment Fund was created with effect from 7th April 2008, with the Charities Commission sealing the scheme which ‘united’ the Funds, and allows all of the Funds to be treated as a single charity for reporting and accounting purposes.