The Committee is constituted as a sub-committee of the Board of Trustees, to invest and monitor funds of the National Portrait Gallery and the Portrait Fund. The Committee is appointed by the Chairman of the Board of Trustees on behalf of the Board of Trustees.
The main function of the Committee is to monitor the funds invested by the appointed investment consultants and ensure that the funds are invested in compliance with the Investment Strategy.
The specific duties of the Committee are:
-to prepare the Investment Strategy, for approval by the Board of Trustees of the Gallery and Portrait Fund Trustees;
-to appoint investment consultants/fund managers to implement the Investment Strategy;
-to monitor the performance of the investments against the performance criteria laid down in the Investment Strategy;
-to revise these criteria as appropriate, to ensure the Gallery's and Portrait Fund's reserves are being invested in accordance with the Investment Strategy objectives;
-to review the investment advisors' contract and their performance in implementing the Investment Strategy;
-to consider any other matters when requested to do so by the Board and Portrait Fund Trustees;
-to report at least once a year to the Board and Portrait Fund Trustees on the discharge of the above duties.
Meetings are held at least twice a year.
Meetings are attended by a Gallery Trustee, a Portrait Fund Trustee, The Director, Director of Communications and Development, and the Head of Finance and Planning, who is the Committee's secretary.
The series includes, for each meeting, an agenda, minutes, and discussion papers.