st george’s police trust - the police treatment centres · investment measure 1958 or section 24...

Northern Police Charities

AGCM 2013

The Police Treatment Centres

St George’s Police Trust


PTC Investment Manager’s Report Nick Bence-Trower - Schroders


AGCM 2013

Investment Manager Report Nick Bence-Trower - Schroders

Schroders Charities

Presentation to the Annual General Council

Meeting of the Northern Police Charities re Police

Treatment Centres

Representing Schroders

Charities:

Thursday, 30th May, 2013

Nick Bence-Trower – Client Director

Tel: 020 7658 6856

Email: nick.bence-

[email protected]

5

Portfolio Summary Police Treatment Centres

Valuation

– 31st December 2012:

£1,630,146


£1,472,437

– Inception [July 2010]:

£1,423,612

– 15th May 2013:

£1,718,414

– Outward payments

Since inception:

£121,358

Distributed Income for 2012

£60,207

2012 Performance

– Portfolio:

+11.0%

– RPI +4% +7.2%

Performance since inception [July

2010]

– Portfolio:

+28.2%

– RPI +4%

+23.5%

6

The Charity Multi-Asset Fund Strategy: Central Asset Allocation

UK Equities

40%

Overseas Equities

10% Emerging Market Equities

3%

Fixed Interest

11%

Property

8%

Absolute Return

15%

Private Equity

5%

Commodities

5%

Cash

3%

7

Asset Allocation

Source: Schroders

Charity Multi-Asset Fund

7

Charity Multi-Asset Fund Strategic Asset

Allocation Tactical Range

31st Dec

2012

31st Mar

2013

UK Equities 40.0% 30 - 50% 40.0% 40.6%

Overseas Equities 10.0% 0 – 20% 17.4% 18.9%

Emerging Mkt Equities 3.0% 0 – 6% 4.0% 3.8%

Fixed Interest 11.0% 1 - 21% 8.8% 8.0%

Property 8.0% 3 - 13% 6.0% 6.0%

Absolute Return 15.0% 10 – 20% 14.0% 12.9%

Infrastructure - - 2.8% 2.7%

Private Equity 5.0% 0 – 10% - -

Commodities 5.0% 0 – 10% 3.7% 3.4%

Cash 3.0% 0 – 15% 3.3% 3.7%

53.0%

63.3%

61.4%

8

Rates to remain low, driving search for yield Schroders interest rate forecast

Source: Schroders, May 2013 forecast Please see the forecast risk warning on the important information slide

0.00

0.25

0.50

0.75

1.00

Jul Sep Nov Jan2013

Mar May Jul Sep Nov Jan2014

Mar May Jul Sep Nov

%

BoE ECB Fed

BoE ECB FedOct 12 0.50 0.75 0 - 0.25

Nov 12 0.50 0.75 0 - 0.25

Dec 12 0.50 0.75 0 - 0.25

Jan 13 0.50 0.75 0 - 0.25

Feb 13 0.50 0.75 0 - 0.25

Mar 13 0.50 0.75 0 - 0.25

Apr 13 0.50 0.75 0 - 0.25

May 13 0.50 0.50 0 - 0.25

Jun 13 0.50 0.50 0 - 0.25

Jul 13 0.50 0.50 0 - 0.25

Aug 13 0.50 0.50 0 - 0.25

Sep 13 0.50 0.50 0 - 0.25

Oct 13 0.50 0.50 0 - 0.25

Nov 13 0.50 0.50 0 - 0.25

Dec 13 0.50 0.50 0 - 0.25

Jan 14 0.50 0.50 0 - 0.25

Feb 14 0.50 0.50 0 - 0.25

Mar 14 0.50 0.50 0 - 0.25

Apr 14 0.50 0.50 0 - 0.25

May 14 0.50 0.50 0 - 0.25

Jun 14 0.50 0.50 0 - 0.25

Jul 14 0.50 0.50 0 - 0.25

Aug 14 0.50 0.50 0 - 0.25

Sep 14 0.50 0.50 0 - 0.25

Oct 14 0.50 0.50 0 - 0.25

Nov 14 0.50 0.50 0 - 0.25

Dec 14 0.50 0.50 0 - 0.25

Asset Allocation

Source: Schroders

Charity Multi-Asset Fund

9

Charity Multi-Asset Fund Strategic Asset

Allocation Tactical Range

31st Dec

2012

31st Mar

2013

UK Equities 40.0% 30 - 50% 40.0% 40.6%

Overseas Equities 10.0% 0 – 20% 17.4% 18.9%

Emerging Mkt Equities 3.0% 0 – 6% 4.0% 3.8%

Fixed Interest 11.0% 1 - 21% 8.8% 8.0%

Property 8.0% 3 - 13% 6.0% 6.0%

Absolute Return 15.0% 10 – 20% 14.0% 12.9%

Infrastructure - - 2.8% 2.7%

Private Equity 5.0% 0 – 10% - -

Commodities 5.0% 0 – 10% 3.7% 3.4%

Cash 3.0% 0 – 15% 3.3% 3.7%

53.0%

63.3%

61.4%

Important Information This material is only issued to or directed at persons in the UK if we consider them be "eligible charities" or others to whom it may lawfully be

communicated under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 and the rules of the FCA, including entities or

persons who are authorised by the FCA, or qualify as Professional Clients or Eligible Counterparties under the FCA's rules. "Eligible charities" for

these purposes are existing Schroders Charities clients or charitable organisations who are registered with the Charities Commission, or exempt

charities, or excepted charities, or other persons eligible to participate in collective investment schemes constituted under the Church Funds

Investment Measure 1958 or section 24 of the Charities Act 1993, or equivalent organisations in Scotland or Northern Ireland. Certain investments or

services to which this material relates may only be available to such persons. This material must not be relied upon or acted upon by any other

persons in the United Kingdom.

The data given here represents past performance of various funds. Past performance is not a guide to future performance. You should remember

that the value of investments, and the income from them, can go down as well as up and is not guaranteed. Exchange rate changes may cause the

value of the overseas investments to rise or fall. Potential investors should be aware that investment in derivative, emerging markets and hedge funds

involves an above average degree of risk and should be regarded as long term investments. Downside protection is not guaranteed. Shares in hedge

funds and private equity funds may be difficult to redeem within a reasonable time or to obtain reliable information about the value of the shares or the

extent of risk exposure.

This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The material is not intended to provide, and

should not be relied on for, accounting, legal or tax advice, or investment recommendations. Potential counterparties are advised to independently

review and/or obtain independent professional advice and draw their own conclusions regarding the economic benefit and risks of investment, legal,

regulatory, credit, tax and accounting aspects in relation to their particular circumstances.

Information herein is believed to be reliable but Schroder & Co. Limited does not warrant its completeness or accuracy. Opinions and estimates

constitute our judgement at the time of issue and are subject to change without notice. Information is sourced from Schroders unless otherwise

stated. This does not exclude or restrict any duty or liability that Schroder & Co. Limited has to its customers under the Financial Services and

Markets Act 2000 or any other regulatory system.

For purposes of the Data Protection Act 1998, the data controller in respect of any personal data you supply is Schroder & Co Limited. Personal

information you supply may be processed for the purposes of investment administration by the Schroders Group which may include the transfer of

data outside of the European Economic Area. Schroder & Co Limited may also use such information for marketing activities unless you notify it

otherwise in writing.

For your security, communications may be taped or monitored.

Issued by Schroder & Co Limited, 100 Wood Street, London EC2V 7ER, Tel: 020 7658 6000, Fax: 020 7658 3827

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority


QUESTIONS?


AGCM 2013




PTC Auditors Report Steve Williams – RSM Tenon

Statement of Financial Activities

2012

Total

£

2011

Total

£

Incoming resources 4,992,767 4,209,356

Resources expended (3,615,482) (3,706,826)

Other recognised

gains and losses

100,869 (140,472)

Net movement in

funds

1,478,154

362,058

Net funds generated

Income less expenditure plus investment gain equals surplus of

£1,478k in the year.

£’0

00

Capital funds

Castlebrae

£

Duke of

York

£

Total

£

Capital funds bought

forward

456,725 118,267 574,992

New donations

received

627,982 389,403 1,017,385

Capital work

completed

- (338,727) (338,727)

Capital funds carried

forwards

1,084,707

168,943

1,253,650

Balance Sheet

2011

Total

£

2011

Total

£

Tangible assets 26,878,704 26,570,739

Investments 1,630,146 1,472,437

Debtors 1,069,461 814,410

Cash at bank and in hand 2,111,926 1,382,121

Creditors: amounts falling due

within one year

(146,097)

(173,721)

Net assets

31,544,140

30,065,986

Fund position

December 2012

Current assets 8% -

£2,500k

Investments 5% - £1,630k

Fixed assets -

permanent

endowment

53% -

£16,603k

Fixed assets -

Castlebrae

30% - £9,557k

Fixed assets - restricted

4% - £1,254k

Total funds

equal

£31,544k

Audit process

• Reach a ‘true and fair’ opinion

• International Standards on Auditing (ISA’s)

• Sample based testing

• Income

• Expenditure

• Assets

• Liabilities

• Financial statements disclosure review

• Unqualified audit opinion issued


AGCM 2013

QUESTIONS?


AGCM 2013




Treasurers Report Pete Henson

2012 Out Turn

Income £3,975,382

Controllable Expenditure £3,615,482

Surplus £359,900

Reason Amount

Contingency Budget

(Underspend)

£144,000

Dampening Fund £180,000

Gift Aid Recovery £24,000

Cash savings in 2012 £11,000

2012 Surplus Breakdown

Reserves & Depreciation

Reason Amount

Dampening Fund

£180,000

Gift Aid Recovery

£ 24,000

Contingency Budget

(Underspend)

£144,000

Cash savings in 2011

£ 11 ,000

Depreciation £246,573

2013 – 2015

Medium Term Financial Strategy

2013 2014 2015

Income £3,831,948 £3,794,576 £3,722,420

Expenditure £3,919,890 £3,952,843 £3,926,290

Deficit (£87,942) (£158,267) (£203,870)

Fundraising

■ Retired Officers

■ Lottery Scheme

■ Recruitment Campaign

■ Capital Funding

3 Year Comparison

2010 Expenditure 2011 Expenditure 2012 Expenditure

£3,637,485

£3,628,068

£3,615,482

2013 Budget

Projected Income £3,953,260

Projected Expenditure £3,953,260

Profit / Loss £0

Summary

■ Medium Term Financial Strategy

■ Annual Budget and Business Plan

■ Asset Management Plan (Inventory based)

■ Estates Strategy and Capital programme

■ Fundraising Strategy


Treasurer - QUESTIONS?


AGCM 2013




Investment Manager’s Report Nick Bence Trower - Schroders

Schroders Charities

Presentation to the Annual General Council

Meeting of the Northern Police Charities re St.

George’s Police Trust

Representing Schroders

Charities:

Thursday, 30th May, 2013

Nick Bence-Trower – Client Director

Tel: 020 7658 6856

Email: nick.bence-

[email protected]

37

Portfolio Summary St. George’s Police Trust

Valuation


£10,622,759


£11,752,494

– Inception [July 2010]:

£10,366,180

– 15th May 2013:

£12,329,048

– Outward payments

Since inception:

£869,123

Distributed Income for 2012

£431,860

2012 Performance

– Portfolio:

+10.9%

– RPI +4% +7.2%

Performance since inception [July

2010]

– Portfolio:

+27.4%

– RPI +4%

+23.5%

38

Important Information This material is only issued to or directed at persons in the UK if we consider them be "eligible charities" or others to whom it may lawfully be

communicated under the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 and the rules of the FCA, including entities or

persons who are authorised by the FCA, or qualify as Professional Clients or Eligible Counterparties under the FCA's rules. "Eligible charities" for

these purposes are existing Schroders Charities clients or charitable organisations who are registered with the Charities Commission, or exempt

charities, or excepted charities, or other persons eligible to participate in collective investment schemes constituted under the Church Funds

Investment Measure 1958 or section 24 of the Charities Act 1993, or equivalent organisations in Scotland or Northern Ireland. Certain investments or

services to which this material relates may only be available to such persons. This material must not be relied upon or acted upon by any other

persons in the United Kingdom.

The data given here represents past performance of various funds. Past performance is not a guide to future performance. You should remember

that the value of investments, and the income from them, can go down as well as up and is not guaranteed. Exchange rate changes may cause the

value of the overseas investments to rise or fall. Potential investors should be aware that investment in derivative, emerging markets and hedge funds

involves an above average degree of risk and should be regarded as long term investments. Downside protection is not guaranteed. Shares in hedge

funds and private equity funds may be difficult to redeem within a reasonable time or to obtain reliable information about the value of the shares or the

extent of risk exposure.

This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The material is not intended to provide, and

should not be relied on for, accounting, legal or tax advice, or investment recommendations. Potential counterparties are advised to independently

review and/or obtain independent professional advice and draw their own conclusions regarding the economic benefit and risks of investment, legal,

regulatory, credit, tax and accounting aspects in relation to their particular circumstances.

Information herein is believed to be reliable but Schroder & Co. Limited does not warrant its completeness or accuracy. Opinions and estimates

constitute our judgement at the time of issue and are subject to change without notice. Information is sourced from Schroders unless otherwise

stated. This does not exclude or restrict any duty or liability that Schroder & Co. Limited has to its customers under the Financial Services and

Markets Act 2000 or any other regulatory system.

For purposes of the Data Protection Act 1998, the data controller in respect of any personal data you supply is Schroder & Co Limited. Personal

information you supply may be processed for the purposes of investment administration by the Schroders Group which may include the transfer of

data outside of the European Economic Area. Schroder & Co Limited may also use such information for marketing activities unless you notify it

otherwise in writing.

For your security, communications may be taped or monitored.

Issued by Schroder & Co Limited, 100 Wood Street, London EC2V 7ER, Tel: 020 7658 6000, Fax: 020 7658 3827

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority

39


QUESTIONS?


AGCM 2013




Auditors Report Steve Williams – RSM Tenon

Statement of Financial Activities

2012

Total

£

2011

Total

£

Incoming resources 927,035 1,000,136

Resources expended (461,459) (346,241)

Other recognised gains and

losses

722,699 (1,005,748)

Net movement in funds

1,188,275

(351,853)

Net funds generated

Income less expenditure plus investment gain equals surplus of

£1,188k in the year.

£’0

00

Balance Sheet

2012

Total

£

2011

Total

£

Investments 11,752,495 10,622,759

Debtors 162,898 166,972

Cash at bank and in hand 1,494,706 1,579,951

Creditors : amounts falling due

within one year

(49,205)

(43,674)

Provisions for future payments (3,290,471) (3,443,860)

Net assets

10,070,423

8,882,148

Fund Position December 2012 £m

illio

ns

Audit process

• Reach a ‘true and fair’ opinion

• International Standards on Auditing (ISA’s)

• Sample based testing

• Income

• Expenditure

• Assets

• Liabilities

• Financial statements disclosure review

• Unqualified audit opinion issued


QUESTIONS?


AGCM 2013




Treasurers Report Pete Henson

2012 Budget Out-turn

These are the audited profit and loss figures for 2012:

Total Income £927,035

Total Expenditure £461,459

Net surplus £461,576

Break down of Surplus

Reason Amount Amount

Surplus per accounts £461,459

Reduced beneficiary

provision

(£153,633)

Investment

Management Fees

(£75,000)

Merseyside Police

Orphans Fund

(£ 18,238)

Contingency Budget (£80,420)

Surplus £134,168

Medium Term

Financial Strategy

2013 2014 2015

Income £819,200 £783,264 £724,769

Expenditure £839,816 £847,827 £856,039

Deficit (£20,616) (£64,563) (£131,270)

Fundraising

• Recruitment Campaign (in conjunction with the PTC)

• Former beneficiaries

• Legacy Strategy

2013 Budget

Income £823,190

Expenditure

£823,190

Profit / Loss

£0

2013 Business Plan objectives

St George’s Police Children Trust

Implement the MTFS and Budget

Develop a Fundraising Strategy

Triennial Review of benefits

Special Needs - Review

Summary

Target those most in need

Increase the level of financial support provided

Provide support sooner

Increase the level of probity and integrity in the

process


QUESTIONS?


AGCM 2013




Introduction - Clinical Services Michael Baxter QPM

Introduction – Clinical Services

4,000 patients during 2012

1 in 8 a retired officer

Physio:

80% of applications are for Physio treatment

Clear evidence of effectiveness and cost benefit

with a minimum return of 3:1

Health and Well-being:

Non-physio issues, particularly stress, increasingly

reported

Recent and continuing focus for improving

treatment offered

60

Mark Oxley

Clinical Services

Manager

Police Treatment

Centres

30th May 2013

Aims of the Charity

To provide treatment to serving and retired

police officers following an illness or injury

with the aim of assisting their return to better

health.

To become a centre of excellence in the

treatment of injured police officers.

21% of patients at Harrogate in 2012 attended

for non-physiotherapy reasons.

North Yorkshire Police

Federation

Health & Well Being Survey 2013

41.2% strongly disagreed or disagreed that they were supported through emotionally demanding work

40.5% were either often or always unable to take sufficient breaks.

65.1% had used a rest day / time off / annual leave instead of going sick

65.4% felt they got the help and support they needed from their colleagues

PTC Admissions

2010 - 289

2011 - 318

2012 - 370

N.B. This does not include those officers who

present for Physiotherapy initially but then

subsequently receive treatment for stress related

conditions.

Types of Conditions

PTSD

Anxiety

Depression

Work related stress

Bereavement

Family issues

Finances

Assessment

Application form

Further enquiries prior to admission by nurse

Initial medical assessment on admission

Follow up appointment focussing on individual

issues

Personal plan agreed

Review appointments at end of week 1 and 2

Complementary Therapies

Therapeutic Massage

Reflexology

Indian Head Massage

Aromatherapy

Hot Stone Massage

Patient Advisors

Terry O’Neill (St Andrews)

and Des Gale (Castlebrae)

Confidential Listening Service

Sign-posting to support services and therapies

Extensive experience of Police culture yet independent

Interventions

Relaxation techniques

EFT (Emotional Freedom Technique)

Psychological acupressure

Self administered coping strategy

EMDR (Eye Movement Desensitisation and Reprocessing)

Psychotherapy treatment useful in PTSD

Reformulates negative beliefs

Exercise

Tai Chi

Yoga

Relaxation Class

Physiotherapy Classes

CV equipment

Pilates-

Designed to improve postural

awareness and core stability

Clinical Audits St Andrews

CORE 10 outcome measure

Covers anxiety, depression, trauma, physical

problems and risk to self

Mean - initial score = 21.25

Mean - discharge score = 13.0

Average improvement = 59%

(n=20)

Clinical Audits Castlebrae

Patients self rated their current mood, sleep pattern,

anxiety level and stress level on a scale of 1-10

(n=46):

Mean improvements;

Mood = 2.55

Sleep = 2.35

Anxiety = 2.71

Stress = 3.02

Respite/Well-being Events

Family Liaison Officers, Public Protection Units,

Accident Investigation Units, Teams concluding

difficult cases.

Friday – Sunday

Health checks, complementary therapy, access to

gym/pools, meeting rooms, classes or workshops as

required.

Summary

Increasing number of officers referred with stress

related issues

PTCs offer a safe harbour, a relaxing, calm

environment

Opportunity to unwind and take stock

Signpost the way forward

Patient Feedback

“The centre allowed me to return to my best self

after a very difficult 12 months in the workplace”

“A helpful, supportive and caring environment”

“The whole stay has helped me keep my sanity, a

difficult thing in today’s climate!”

“If Carlsberg ran a convalescence home...it still

wouldn’t be as excellent as this one!”

Questions?


AGCM 2013




Introduction - Fundraising Michael Baxter QPM

Introduction - Fundraising

The Treasurers Report has already set out the

current position and the challenges of the future.

Revenue:

Annual operating and running cost = £4 million

(£11,000 per day)

Capital:

St Andrews refurbishment = £3.5 million; largely

achieved through fundraising

Castlebrae Main Scheme (5 Phases) = £4.5 million

Castlebrae Phase One and Two = £2.9 million

79


Fundraising Amanda Carter

Fundraising Today

■ Charities have to work smarter and harder for their

money

■ Donors want to be sure their money is being used

effectively and is value for money

■ People not only want to know how the money is

spent but see how it is improving outcomes

■ Glasgow Caledonian University commissioned to

assess the business cost/benefit of PTC

physiotherapy provision.

■ The report validates early findings that PTC

provides effective physiotherapy interventions,

which are also cost-effective.

82

Value for Money

• Evidence supports the role and impact of physiotherapy in working

with musculoskeletal injury, (including back injury) and the

importance of early intervention whenever possible.

• Increase of 50% in officers on full duties and a decrease of 61% in

officers off work/recuperative duties.

• PTC attendance can lead to a reduction in forecasted injury related

absence cost over a twelve month period of between

approximately £3,000 (acute condition) to £26,000 (chronic

condition) per constable (with a back related injury).

• This equates to a minimum cost benefit analysis ratio of 3:1

achieved by attendance at the PTC.

83

Revenue Fundraising

■ We are experiencing falling numbers of police

officers and fewer officers choosing to donate to

the PTC which is affecting our revenue funding

■ The two main revenue fundraising activities

currently running are:

PTC lottery

Donor recruitment campaigns

84

Revenue - The Lottery

■ Consultation with NARPO and RPOAS Executives,

branches and members

■ A lottery was clearly the preferred option and an

ideal way for retired officers to support the Charity

■ The lottery would bring in extra income from a

range different supporters

■ Aim to go live at the end of July 2013

■ Substantial contribution to revenue funding

■ Projected income in three years to be at least

£70,000

Revenue - Recruiting Donors

■ We don’t have direct access to non-donors which makes

recruitment difficult

■ In order to run a successful recruitment campaign it is

necessary to work closely with the local Police Federation

and also have the support of the Chief Constable, the PCC

and HR

■ During 2013 there will be donor recruitment campaigns in 11

police forces

■ Nottingham, BTP, Humberside, South Yorkshire,

Northumbria, North Wales, Cleveland, North Yorkshire,

Durham, CNC and MOD

86

Capital - Castlebrae

Castlebrae continues to provide excellent treatment but

limited capacity in the gym, sports hall and lack of a

hydrotherapy pool is receiving continuing negative patient

and staff feedback.

■ Phase One and Two cost = £2.9 million

■ Funding raised to date = £1.7 million

Six former Scottish police forces - £450,000 in grants

■ ‘High Net Worth’ – current positive engagement

■ Trusts and Foundations - Research and applications

■ Corporates - Research and networking

88

Capital - St Andrew’s

The 1980’s pool roof is in need of urgent repair

The cost has been estimated at £150,000

Trusts and Foundation applications where

appropriate

Applications to Police Federation Joint Branch

Boards and Police Benevolent Funds who have

not yet supported the refurbishment of St

Andrews

Corporates – research and networking


How can you help?


AGCM 2013

Chief Executive

PTC - QUESTIONS?


Secretary's Report - 2012 Michael Baxter QPM


Supporting children and young people

one of whose parents is, or was, a police

officer and who has either lost their life or

whose earnings have been reduced

because of incapacity through injury or

illness. 93


■ On-duty AND Off-duty

■ Financial support is dependant on family income

and circumstances.

■ Almost 300 beneficiaries receive a weekly

allowance (paid quarterly).

■ More than 80 young people receive Further

Education Grants.

■ ALL beneficiaries receive a cash Christmas Gift.


(correct at December 2012)

95

SGPT No. of beneficiaries

Total

Beneficiaries

293

+ Further Ed.

82


With effect from

1 January 2013

What’s the difference?

Fundraising

2013-2015 MTFS

forecasts a £40,000 deficit by 2015

• Donor recruitment campaigns

(in conjunction with the PTC)

• Support from former beneficiaries

• Legacy Strategy

• Collection boxes? Or “branding”


QUESTIONS?


AGCM 2013



st george’s police trust - the police treatment centres · investment measure 1958 or section 24...

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