Investment Policy
The UNE Foundation (UNEF) is a public company limited by guarantee, which was established to receive, invest and make available to the university funds donated for scholarships, teaching, research and related purposes.
It has a strong governance and operational model that is very attractive to donors:
- While required to comply with certain investment guidelines laid down by the University Finance and Infrastructure Committee, it operates independently of the University. It has a majority of independent directors, one of whom is the Chair.
- It utilises the advisory services of a highly capable investment manager, but all decisions on investment and expenditure remain with the Board.
- It releases funds to the University only after satisfying itself that the proposed expenditure is in accordance with donors’ wishes.
- The University provides operational support to UNEF at no charge to the Foundation. This, together with the fact that the directors serve without fee, means that there are no overheads; every dollar donated to the Foundation is available for the purpose for which it is donated.
- The Foundation’s accounts are audited annually by the Audit Office of NSW.
An Independent Body
While it is for accounting and audit purposes a “controlled entity” of the University of New England, and must operate within certain prudential investment guidelines which UNEF establishes for the University and its controlled entities, UNEF operates independently of the University. Its directors include the Vice-Chancellor, a nominee of the University Council, and seven other directors, at least six of whom must not be Members of the Council, staff or students of the University. The Chair is an independent director.
As directors of a public company established under the Corporations Act, all directors have the responsibilities defined by the Act and in the performance of their UNEF duties are required at all times to act in the best interests of the Foundation.
Investment of Funds
JBWere provides UNE Foundation with a holistic Investment Advisory and Management Service across all facets of the investment process. This partnership aims to support UNE Foundation in meeting its investment needs and aspirations. JBWere, in collaboration with their industry-leading Investment Strategy Group and Philanthropic Services Team, advise and assist UNE Foundation to invest its assets in-line with their Investment Policy. As UNEF's trusted partner, JBWere provide a tailored investment, governance and management solution to the Foundation and its various stakeholders.
