Marie Curie

The investment portfolio is overseen by an independent board of trustees, chaired by Kevin Parry as of January 2025. Day-to-day investment decisions are delegated to professional managers under an investment policy that prioritizes income generation and capital preservation. The charity's Royal Patron, HM King Charles III, holds a ceremonial role without fiduciary authority.

The 170-shop retail portfolio generates unrestricted income that funds the charity's core palliative care mission, operating as a separate commercial entity. This structure buffers clinical delivery from investment portfolio volatility — hospice nursing is not funded by endowment drawdowns alone but by a diversified revenue mix that includes high-street retail, corporate partnerships with Superdrug and Morrisons, and fundraising.

Its primary healthcare assets are the nine hospices and nursing infrastructure it owns and operates directly — not private equity stakes in healthcare companies. The investment portfolio holds traditional asset classes (equities, fixed income, property) and does not pursue venture or impact investing in health-tech startups, consistent with a mandate centered on near-term income generation rather than thematic allocation.

Unlike university endowments that invest for perpetual growth, Marie Curie's investment mandate is income-oriented: the charity exists to fund ongoing care, not to compound in perpetuity. The retail estate, corporate partnerships, and fundraising all supplement investment income, making the charity less dependent on capital-market returns than a grant-making foundation would be.

The Board of Trustees holds ultimate fiduciary responsibility, and investment management is outsourced to external managers operating under a conservative mandate. The charity does not maintain an in-house chief investment officer or internal investment team — a structural choice that reflects its focus on care delivery rather than portfolio construction.

Its physical assets are concentrated in the United Kingdom, with nine hospice facilities spanning all four UK nations — England, Scotland, Wales, and Northern Ireland. The liquid investment portfolio includes global equities and fixed income, but the charity's operational footprint is exclusively domestic, reflecting its NHS-adjacent role in UK end-of-life care.

Yes. As a UK registered charity, its investment policy is constrained by Charity Commission guidance requiring trustees to prioritize the charity's purposes over financial return maximization. This produces a conservative asset allocation — income-generating assets dominate, speculative positions are avoided, and ethical exclusions are applied — making the portfolio structurally distinct from unconstrained allocators.