Millenne Advisors works with UK charities holding £1m–£20m in long-term assets. We support two common situations: when you are investing for the first time and need a clear Investment Policy Statement and CAIF allocation framework, and when you have already invested but results have not met expectations and trustees want an independent second opinion.
We specialise in helping charity boards and trustees who oversee long-term investment portfolios and want clarity on how best to use CAIFs and other charity funds.
Charities with growing reserves or newly received capital that has not yet been invested, and where there is no formal Investment Policy Statement to guide decisions or CAIF selection.
Charities that already hold CAIFs or other charity funds but have seen disappointing results: capital erosion, volatility or persistent underperformance versus reasonable benchmarks.
Boards and finance committees who are legally responsible for investment decisions, want to act prudently, and need concise, jargon-free analysis they can rely on when setting or reviewing their investment arrangements.
We do not manufacture products or run a platform. We sit alongside you as an independent partner, helping you decide if, how and where CAIFs and other charity funds should fit within your long-term portfolio.
For charities that have never invested before, we help you design a clear, board-approved Investment Policy Statement and a sensible long-term asset mix, including how CAIFs might be used, so your first step into investing is structured and aligned with your mission and risk tolerance.
For charities that already invest, we analyse performance, risk, asset mix and fees, focusing on your use of CAIFs and other charity funds. We then provide an independent view on whether issues lie with markets, allocation or managers – and outline pragmatic options.
For boards that want a steady, independent voice alongside them, we provide periodic reviews, trustee education and input during manager beauty-parades or re-tenders, whether you are establishing a first CAIF-based structure or refining an existing line-up.
Charity Authorised Investment Funds (CAIFs) are designed specifically for charities, but that does not make every CAIF automatically suitable. We help you understand where they fit – and where they may not.
CAIFs can offer governance, diversification and operational simplicity for charities that do not wish to build bespoke segregated portfolios. The challenge is choosing the right mix of CAIFs and ensuring they genuinely support your objectives, risk appetite and spending rules.
Our work focuses on:
A simple, structured process designed to give trustees clarity and confidence, without adding unnecessary administrative burden.
A short call with one or two trustees or senior staff to understand your charity, the size and role of your investment portfolio, and whether you are starting to invest or reviewing existing CAIF holdings.
We review your latest valuations, manager reports, IPS (if any), spending rules and CAIF holdings. Where needed, we agree a simple data request with your existing managers or platform.
We analyse performance, risk, allocation, CAIF usage and costs against your objectives and constraints, then produce a clear report with traffic-light findings and practical options for the board.
We present our findings, answer questions and help you agree next steps – whether that is refining your IPS, adjusting CAIF allocations or running a structured re-tender.
A charity with a £7m long-term fund invested mainly in two CAIFs had seen little real growth. Our review identified:
We helped trustees refine their IPS, diversify across complementary CAIFs and improve monitoring, giving the board greater confidence in its oversight role.
Millenne Advisors was founded by investment professional Aaron Jean-Baptiste, CFA, to bring institutional-style investment oversight to charities that are too small to hire a full-time CIO, but too important to accept unclear or disappointing outcomes.
Aaron has experience across multi-asset portfolios and equity research, including work on institutional mandates and manager oversight. His work has contributed to improved investment processes, cost savings and better risk management for clients.
Millenne Advisors focuses on being:
If your charity’s long-term fund is smaller today than a few years ago, or you are about to invest for the first time and want to use CAIFs thoughtfully, you can use this form to request an initial discussion.