What is the Golden Charter Trust?
The Trust is a separate financial entity from the company and is run by a board of independent trustees.
Its purpose is to hold the payments made by the plan holders and to pay the agreed invoice value to the independent funeral directors when the funerals take place. This arrangement is to ensure that nothing can happen to Golden Charter - the company - that could possibly affect the future payments for the funeral plans.
In accordance with the rules of the Funeral Planning Authority, the majority of the trustees must have no connection with Golden Charter as a company. Four of the five trustees are completely independent of Golden Charter and the fifth is an executive member of the SAIF Charter Association (that holds a 100 per cent shareholding in Golden Charter) and a non-executive director of Golden Charter. He provides the vital link between the funeral directors, Golden Charter the company, and the Golden Charter Trust. Their prime responsibility is to ensure that there are sufficient funds to pay the funeral directors, who are the beneficiaries of the trust, at the time of need. The board of the Golden Charter Trust has been appointed by virtue of their experience and integrity.
Profiles of the Trustees
Profiles of the people who safeguard the Golden Charter Trust
In accordance with the rules of the Funeral Planning Authority, the majority of the Trustees must have no connection with Golden Charter as a company. Four of the five members are completely independent of Golden Charter and the fifth is a Trustee of the SAIFCharter Association (that holds a 100 per cent shareholding in Golden Charter) and a non-executive director of Golden Charter. He provides the vital link between the funeral directors, Golden Charter the company and the Golden Charter Trust. Their prime concern is to ensure the there are sufficient funds to pay the funeral directors, who are the beneficiaries of the trust, at the time of need. The board of the Golden Charter Trust has been appointed by virtue of their experience and integrity.
-
Harry S. Cathcart
Appointed a Trustee in June 2002. Former Vice Chair and National Treasurer of Help the Aged which has now merged with Age Concern. Chairman of Shires Smaller Companies plc, an investment trust quoted on the London Stock Exchange. Harry S Cathcart has been a director of Hill Samuel Bank and its Scottish subsidiary, and a director and vice-president of the Glasgow Chamber of Commerce. He was elected a Fellow of the Chartered Institute of Bankers in Scotland in 1992.
-
Carolan Dobson
Currently a member of the Competition Commission and the chairman of QinetiQ Group plc’s pension fund and Trustee of the Avon Pension fund and independent investment advisor to a number of local authority pension funds. Carolan is also a non-executive director of Shires Smaller Companies and Sport Scotland and chairman of Lomond School.
-
Trevor G. Larman
Formerly non-executive director and chairman of Headlam Group plc and currently a trustee of several charities.
-
John F. Harris (MA)
John Harris is a partner in T Cribb & Sons one of the oldest and most respected firms of independent funeral directors in the UK. He is a past president and fellow of the National Society of Allied and Independent Funeral Directors (SAIF), a trustee of the SAIFCharter Association and a non-executive director of Golden Charter. He provides the vital link between the funeral directors, Golden Charter and the company and the Golden Charter Trust.
-
Ian Blackford
Formaly a Managing Director of Deutsche Bank. Ian was responsible for the market leading Dutch equity business. Managing Director of First Seer a strategic investor relations consultancy. Non-executive director of Commsworld and the Edinburgh Bicycle Company.
Currently the Trustees employ Baillie Gifford, Legal & General Investment Management, LCF Edmond de Rothschild Asset Management (C.I.) Limited, Royal London Asset Management and Aviva Investors as their fund managers. Therefore in addition to a diverse asset allocation strategy, the Trustees also spread the investments among several fund managers.
Barnett Waddingham of Glasgow, the consulting actuaries, appraise the Fund performance regularly.
The Golden Charter Trust deed is available for inspection by prior appointment at our Glasgow Office.