INVESTMENT AND FINANCE COMMITTEE

The records of the Committee are an important resource for anyone interested in the financial situation or investment activities of the Institution.

The records comprise the following series:

LMA/4459/C/01 Minutes

THESE RECORDS ARE OPEN TO PUBLIC INSPECTION, ALTHOUGH RECORDS CONTAINING PERSONAL INFORMATION MAY BE SUBJECT TO CLOSURE PERIODS.

The Investment Committee was constituted under section 8 of the Governesses Benevolent Institution Act 1952. The committee met at least once every quarter to oversee the financial affairs and investment activities of the Institution. The committee was reconstituted and renamed the 'Investment and Finance Committee' in 1960. Under the terms of that reconstitution, the Committee acted in a purely advisory capacity with regard to the finance of the Institution and had no executive powers other than those granted by the Board of Management for specific purposes. It concerned itself with overseeing money received and the manner in which it was spent, the amount of money made available for capital expenditure and for day to day requirements, the presentation of the Annual Accounts, and the operation of the Institution's bank accounts. It had limited executive powers over investments approved by the Board from time to time, and had the power to effect a change of investments between meetings of the Board up to a total of 100,000 pounds. The committee was still in existence in 1985.