New appointments and reappointments to the Charities Advisory Committee

1. The Committee is responsible for guiding the Department’s investment policy for the Northern Ireland Central Investment Fund for Charities. 

2. The Northern Ireland Central Investment Fund for Charities was set up in March 1965 as a result of the Charities Act (NI) 1964.  The Fund aims to give trustees the opportunity to invest all or part of their assets with the benefit of expert supervision.  Recognised fund managers (currently Aberdeen Standard Capital) are responsible for the day to day management of the actual portfolio, but the funds investment policy is guided by an Advisory Committee. The Fund operates much as a Unit Trust. Participating charities pool their resources and are given a proportionate number of shares in the Fund based on the most recent valuation.

3. The extensions to the terms of appointment have been made in accordance with the Commissioner for Public Appointments for NI (CPA NI) Code of Practice.

4. All appointments are made on merit and political activity plays no part in the selection process. However, CPA NI requires the political activity of appointees to be published.

5. The Charities Advisory Committee comprises a non-executive Chair and three non-executive members. All positions are not remunerated but attract travel allowances. 

6. Biographical details of appointees:

• Mr David Murphy

Mr Murphy is a Fellow of the Institute of Chartered Accountants with 25 years’ experience of public sector finances include strategic planning, service delivery, financial and investment management, preparation of accounts, compliance with Managing Public Money and risk management. He is the Chief Executive (Accounting Officer) of the Northern Ireland Local Government Officers' Superannuation Committee which manages Northern Ireland's largest investment fund and provides pension services to over 118,000 members. He holds no other public appointments and has not undertaken any political activity in the past five years.

• Mr Kenneth Nelson

Mr Nelson’s career has been within non-banking financial services. He has experience of chairing Investment Committees with responsibility for investment strategy, asset allocation, and the evaluation and selection of specific portfolio assets. His management responsibilities have encompassed teams across the UK and Ireland, dealing with a range of stakeholders including senior management within a number of organisations. He holds no other public appointments and has not undertaken any political activity in the past five years.

• Mr Jeremy Stewart

Mr Stewart has worked for 29 years in UK regulated investment businesses, in a range of roles. He has served on the Executive Committee of a local bank, with leadership responsibility for investment advice, share dealing service, discretionary portfolio management and development and implementation of new investment management and advice policies and governance procedures. He has previously chaired the Trustee Investment Committee for the UK DC Pension Fund of a UK bank. Mr Stewart is a Fellow of the Institute of Bankers and also has an MBA from the University of Ulster. Investment qualifications include the CII Certificate in Financial Planning and a number of examinations for the Diploma in Regulated Financial Planning. Mr Stewart is a non-Executive Director of the Business Service Organisation, Department of Health for which he receives £5,402 per annum. He holds no other public appointments and has declared that during the last 5 years he has canvassed for the Alliance Party in the N.I Assembly elections.

7. Media enquiries to DfC Press Office on 028 9082 3532 or email press.office@communities-ni.gov.uk. Out of office hours please contact the Duty Press Officer on 028 9037 8110.

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