Charities Act 2011

99 Further provisions relating to common investment schemes and funds

(1) Except in so far as a common investment scheme provides to the contrary—

(a) the rights under it of a participating charity are not capable of being assigned or charged;

(b) a trustee or other person concerned in the management of the common investment fund is not required or entitled to take account of any trust or other equity affecting a participating charity or its property or rights.

(2) The powers of investment of every charity include power to participate in common investment schemes unless the power is excluded by a provision specifically referring to common investment schemes in the trusts of the charity.

(3) A common investment fund is to be treated for all purposes as being a charity.

(4) Subsection (3) applies not only to common investment funds established under section 96, but also to any similar fund established for the exclusive benefit of charities by or under any enactment relating to any particular charities or class of charities.