Man Group Endowment for Quantitative Finance
Part of Council Regulations 25 of 2002: Trust Regulations
Made by the General Purposes Committee of Council on 12 July 2007. Amended by the General Purposes Committee of Council on 12 May 2011 and 28 June 2019 (Gazette, Vol.149, p.548, 13 June 2019), 11 December 2020 (Gazette, Vol. 150, p.146-147, 26 November 2020), 13 January 2023 (Gazette, Vol. 153, p.132, 1 December 2022) and on 19 May 2023 (Gazette, Vol.153, p.336, 4 May 2023).
1. Man Investments Limited wishes to establish an endowment, which shall be known as the Man Group Endowment for Quantitative Finance, at the University with an initial donation of £3.3 million and with the possibility of making further donations. The initial sum and any further donations are referred to in these Trust Regulations as ‘the Fund’.
2. The overarching purpose of the Fund is to advance education (teaching and research) in the field of quantitative finance.
3. The University may accept contributions towards the Fund from parties other than Man Investments. Any such contributions shall be held in accordance with these Trust Regulations and, for the avoidance of doubt, donors other than Man Investments shall have no entitlement to name the Fund.
4. The University shall retain the sums paid into the Fund pursuant to Regulation 1 as permanent endowment and shall apply the net income towards the overarching purpose as set out in Regulation 2.
5. The University may in its absolute discretion, instead of applying the income of the Fund in any year, accumulate all or part of such income by investing it, and holding it as part of the capital of the Fund. The University may apply the whole or any part of such accumulated income in any subsequent year as if it were income of the Fund arising in the then current year.
6. The University, as Trustee of the Fund, may exercise any of its corporate powers in the management and administration of the Fund.
7. The administration of the Fund, and the application of its income, shall be the responsibility of the Management Committee for the Oxford–Man Institute of Quantitative Finance.
8. Regulations 1–11 shall be deemed as Trust Regulations under the provisions of Part D of Statute XVI.
9. Subject to regulations 10 and 11, Council may amend, repeal or add to these regulations in accordance with Part D of Statute XVI, but no amendment is valid if it would cause the Fund to:
(1) cease to be exclusively charitable according to the law of England and Wales; or
(2) be outside the objects of the University.
10. Any amendment to regulation 2 is an amendment to the main objects of the Fund for the purposes of Part D of Statute XVI and must be approved both by Congregation of the University and subsequently by His Majesty in Council.
11. The University shall consult with Man Investments before the Council makes any amendment to Regulation 7. The University must notify Man Investments of any amendment made to these Trust Regulations.
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