Investment Policy and Performance

Leathersellers' Foundation Investment Policy and Performance

Last updated January 2026

The Foundation’s commitment is to continue long-term charitable giving. The investment strategy is to maximise total return over the long-term in order to sustain this objective.

The leasehold land held as investment property is shown at market value as estimated by the trustees as at 31 July 2025 based on professional advice. It is the trustees’ long held policy to retain an interest in property within the City of London. This provides a minimum rental income sufficient to provide approximately one fifth of the present commitment to charitable giving.

The equity investment portfolios are independently professionally managed to generate the maximum total return over the long-term, consistent with prudent levels of risk. The equity investment portfolio managed by Cazenove Capital, the charity brand of Schroder & Co, with a mandate of:

• A global equity mandate with an ESG focus.

Trustees’ report – year to 31 July 2025

• The aim of the portfolio is “to provide capital growth by investing globally in shares of companies that are managed for the long term and account for their impact on stakeholders”.
• The overall objective of the portfolio is to provide £2-3m, in addition to dividends, for grant giving (4-6% p.a. plus dividends).

The portfolio is run on a segregated basis and is managed by the same team that run the Schroder Global Sustainable Growth fund. In the 12 months to 31st July  2025 the total return for the equity portfolio was 4.8% compared with a benchmark of 12.5% (MSCI AC World NR).