An investment office for Oxford colleges and similar investors in both the charity and private wealth management sectors.
OXIP is a new kind of investment office run on principles similar to those of the well known US endowments and Family Offices, but adapted to the needs of the UK Charity and Private Wealth sectors. Its first pooled fund, the OXIP LP, for Charities and Endowments, was launched on 1 May 2006. A second fund with an identical investment policy, the OXIP Diversified Fund, for expert investors and family offices, followed on 1 November 2006.
OXIP is a collaborative venture between five Oxford Colleges (Christ Church, St Catherine’s, Balliol, New College and St John’s), its professional management, and the leading investment consultant Watson Wyatt. It was created with the sole purpose of managing the Colleges’ endowments in a way designed to produce optimal risk-adjusted returns from a diversified portfolio of assets. The objectives of the founder colleges are to protect the endowment against inflation, to be able to draw a prudent and sustainable sum for annual spending, and (subject to the first two conditions) to increase real wealth over time. The founders believe that these investment objectives are shared by many other long-term institutional and individual investors, and the OXIP funds are accordingly structured to allow investors with similar aims to co-invest alongside the colleges at a fair price.
OXIP is authorised and regulated by the Financial Services Authority.
OXIP Executive Director and a member of the Governing Body at Christ Church
Karl read read Politics, Philosophy and Economics at Christ Church, Oxford in 1988; From 1992 he worked at Morgan Grenfell Asset Management (owned by Deutsche Bank), one of the largest fund management companies in Europe, in a variety of roles, ultimately as Chief Investment Officer for UK, Europe and Asia.
Karl began his career at Morgan Grenfell Asset Management as UK Equity fund manager; he moved to Australia in 1997 to integrate Axiom Fund Management which Morgan Grenfell had acquired from the Government of New South Wales; and he returned to the UK in 1999 to become Chief Investment Officer of Deutsche Asset Management in the UK. Thereafter he became Global Head of Equities, and latterly he took the CIO role and was responsible for the investment professionals, structure, and investment processes outside the United States.
In 2005 he left to establish OXIP for Christ Church: a fund management company designed for the college’s specific investment objectives, but open to outside investors. It now runs £550m of assets, the bulk of which are from outside Oxford.
Registered Charity Number: 1143423