Our governance documents
Use this page to explore our royal charter, standing orders, regulations, policies and processes that ensure effective governance and operation within our organisation.
RCN royal charter
RCN standing orders
Regulations
These provide the overall framework for our policies and procedures.
Accreditation and dis-accreditation
Appointment and removal of an assurer
Council, board and committee members - fit and proper persons criteria
Financial regulations - financial limits
Member Resolutions at General Meetings
Nursing Support Worker constituency
Policies and processes
These set out underlying principles and guidance on key operational areas.
We are pleased to confirm that the RCN has a strong ethical policy which requires that the investments should be managed in a socially responsible manner. The policy states that there should be no direct investments in companies that violate the following restrictions:
- Cluster bombs and landmines – Prohibited under international treaties and not included in any portfolio managed by Sarasin.
- Adult entertainment – 5% of revenues in activities connected to adult entertainment.
- Alcohol – 5% of revenues related to the production of alcohol or 10% of revenues from the sale of alcohol related products and services.
- Armaments – zero exposure to manufacturers of whole weapon systems and 10% of revenues from sales connected to weapons systems including components, support systems and services designed for weapon use.
- Civilian firearms – zero exposure to either the manufacture or sale of civilian firearms.
- Gambling – 5% of revenues related to gambling operations or 10% of revenues from the sale of gambling related activity.
- Tobacco – zero exposure to tobacco producers, 10% of revenues derived from tobacco related products.
- Thermal coal – 5% of revenues derived from the extraction of thermal coal.
- Oil tar sands – 5% of revenues derived from the production of oil from tar sands.
- Predatory Lending - 5% of revenues for activities connected to predatory lending
In addition to our specific ethical restrictions, our Investment Manager looks to avoid investing in companies which are materially involved in ethically unacceptable practices such as:
- Corruption
- Environmental degradation
- Poor labour practices
- Breaches of human rights
- Companies which persistently, knowingly and materially breach international legal standards
Finally, our Investment Manager has been graded as an A which is well above the median average of other investment based upon the UN Principles for Responsible Investment,
Statement of investment principles
Breakdown of RCN portfolio as at 30 June 2024
Investments |
Asset Type |
Value £ |
Capital % |
| Bond | UK Gilts | 5,939,250 | 5.7% |
| Bond |
Sterling Corporate Bonds | 4,707,543 | 4.5% |
| Bond |
Sterling Asset Backed | 3,040,164 | 2.9% |
| Bond |
Sterling Government Agencies, Supra | 1,770,851 | 1.7% |
| Bond |
US Corporate Bonds | 375,375 | 0.4% |
| Bond |
US Government Agencies, Supra | 195,420 | 0.2% |
| Bond |
Other Corporate Bonds | 156,571 | 0.2% |
| Bond | Euro Corporate Bonds | 96,434 | 0.1% |
| Bond | US Asset Backed | 47,487 |
0.0% |
| Bond | Euro Government Agencies, Supra | 39,150 | 0.0% |
Bond Total |
|
16,368,245 |
15.8% |
| Equity | North American Equities | 51,444,666 | 49.6% |
| Equity | European Equities Ex UK | 12,003,435 | 11.6% |
| Equity | Asia Pacific Basin Equities Ex Japan | 3,353,374 | 3.2% |
| Equity | UK Equities | 2,770,982 | 2.7% |
| Equity | Japanese Equities | 2,187,002 |
2.1% |
Equity Total |
71,759,459 |
69.2% |
|
| Fund (External) | Direct Property UK | 3,249,403 | 3.1% |
Fund (External) Total |
3,249,403 |
3.1% |
|
| Alternative Investments | Infrastructure | 2,455,735 | 2.4% |
| Alternative Investments | Commodities | 2,259,360 | 2.2% |
| Alternative Investments | Absolute Return | 1,472,647 | 1.4% |
| Alternative Investments | Other Alternatives | 736,787 | 0.7% |
| Alternative Investments | Private Equity | 254,981 | 0.2% |
Alternative Investments Total |
7,179,510 |
6.9% |
|
| Liquid Assets | Liquid Assets | 5,088,141 | 4.9% |
Liquid Assets Total |
5,088,141 |
4.9% |
|
Grand Total |
103,644,758 |
100.0% |
