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Annual Review January 2018

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Annual Review January 2018 ANNUALANNUAL REVIEW REVIEW 2016 JANUARY 2018 © SIR CAM SIR © INTRODUCTION The Cambridge Commonwealth, European and International Trust is the largest provider of funding for students at the University of Cambridge, engaging actively with all Schools, Departments and Colleges. The Trust supports the University’s mission in nurturing talent, by removing the economic barriers which may face students who are offered places, and during its thirty-year history of offering scholarships has helped nearly 18,000 students to undertake degrees at the University of Cambridge. Acting as an independent charitable body, the Trust recognises and rewards excellence, enabling talented students to benefit from the outstanding educational and research opportunities offered at the University of Cambridge. It offers support to students irrespective of their economic or social background. Each year the Trust welcomes around 400 new students, and at any one time there are around 1,200 young people from across the world studying in Cambridge with financial support from the Trust. The CAMBRIDGE TRUST ANNUAL REVIEW 2018 REVIEW ANNUAL TRUST CAMBRIDGE majority of these are taking Masters or PhD degrees, but the Trust also supports a number of international undergraduates. The Trust is governed by a board of distinguished Trustees selected for their skills and experience in order to guide the work of the Trust, and its Patron is His Royal Highness The Prince of Wales. Management of the Trust is delegated to a team of fourteen staff, led by a Director. This third edition of the Review presents our achievements over the past year, none of which would have been possible without the support of the many partners with whom the Trust works, both within Cambridge and in the wider world. Senate House 3 DIRECTOR’S FOREWORD STILLVISION © I am delighted to present this Review of the Cambridge Trust’s activities for the financial year August 2016 – July 2017. Each year when this Review is compiled, I am reminded of the value of a scholarship. During this past year I have met many of our scholarship winners at various stages in their studies here at the University of Cambridge. When I meet Cambridge Trust scholars I am always struck CAMBRIDGE TRUST ANNUAL REVIEW 2018 REVIEW ANNUAL TRUST CAMBRIDGE by their energy and enthusiasm for their chosen area of study. Coming from one hundred countries, including the UK, they study the full range of disciplines available at Cambridge, and are engaged in finding the sport. He paid tribute to the achievements of those who not only solutions to some of the world’s most pressing issues. gain a place at Cambridge but also win a scholarship in the face of fierce international competition. As well as contact with scholars, my meetings this year with alumni stand out as particularly significant experiences. Every year, alumni The cohort of new Trust students were welcomed this year by of the Trust and of Cambridge support our work, either through the incoming Vice-Chancellor, Professor Stephen Toope. The fact contributing funds, by sharing ideas and insights, being generous that Professor Toope came to Cambridge from Canada thanks to a DIRECTOR’S FOREWORD DIRECTOR’S with their contacts or by supporting current and graduating students. scholarship – he was awarded a Commonwealth Scholarship for his This year, I was welcomed warmly by the Oxford and Cambridge PhD in Law – struck a chord with many of the scholars present. We Societies in India and Kenya. Both Societies hosted events at which wish the Vice-Chancellor every success in his term of office. scholars about to depart for Cambridge to begin their studies were congratulated on their success in winning a Trust scholarship. These Thanks to the support of its many partners the Trust continues to events served to celebrate the success of the scholars in the presence expand the range and number of scholarships it offers. This year I was of their communities, and demonstrated in a concrete way the support proud that Mrs Helen Stone, the Canadian Institute for Advanced Legal base provided by alumni to current students and graduates. This Studies, and the Royal Society Te Apārangi – Rutherford Foundation can be particularly important to students who need connections to (New Zealand) were all inducted into the Vice-Chancellor’s Circle in help them establish themselves professionally when they return to recognition of the support they have given. their countries. Finally, I would like to express my gratitude to our Trustees for giving Last year we said farewell to the 345th Vice-Chancellor of the their valuable time and considered thought to the many issues which University of Cambridge, Professor Sir Leszek Borysiewicz, who came face the Trust during the course of its business. to the end of his seven year term. To mark Sir Leszek’s considerable support of the Trust, scholars who were recipients of the prestigious Vice-Chancellor’s Awards introduced by him attended a send-off event at the Cambridge University Cricket Club in honour of his passion for Director 4 5 FINANCIAL HIGHLIGHTS The Trust spends c.95% of expenditure on its The Trustees’ report and audited financial statements for the year ended objective of support to students. The average cost per 31 July 2017 are available online at www.cambridgetrust.org/about/. student for the financial year ended 31 July 2017 was The following information extracted from those financial statements £20,160 compared to £18,500 for the previous year, summarises the Trust’s income and expenditure at 31 July 2017. and overall cost on student support increased from £21.5 million to £23 million. Income 2016–17 Donations and partnership income grew from £18.8 million to CAMBRIDGE TRUST ANNUAL REVIEW 2018 REVIEW ANNUAL TRUST CAMBRIDGE £19.2 million. The Cambridge University Endowment Fund manages the Trust’s main investments. The value of the Trust’s total investments at 31 July 2017 was £167 million and produced an investment return of £5.4 million. Part of this income is used to support staff and administration costs and the remainder is spent alongside external donations and partnership income, in order to maximise the number £1.3m Undergraduates (3–4 year course) £12.3m Donations from the University of scholarships available. and Colleges of Cambridge £2.5m Masters (1–2 years) FINANCIAL HIGHLIGHTS FINANCIAL £6.9m Donations and partnerships £19.2m PhD (3–4 year course) © SIR CAM SIR © £1.0m Administration & governance £5.4m Investment income from the Trust’s Endowments Expenditure 2016–17 £1.3m Undergraduates (3–4 year course) £12.3m Donations from the University and Colleges of Cambridge £2.5m Masters (1–2 years) £6.9m Donations and partnerships £19.2m PhD (3–4 year course) £1.0m Administration & governance £5.4m Investment income from the Graduating students outside King’s College Trust’s Endowments 6 7 PARTNERSHIP NEWS The Trust enters into partnerships with a wide range STILLVISION © of organisations worldwide, from governments and state agencies to individual philanthropists, from family foundations to international corporations. These partnerships enable the Trust to offer more scholarships to outstanding students, irrespective of social and economic background, than would be possible using only its own resources. CAMBRIDGE TRUST ANNUAL REVIEW 2018 REVIEW ANNUAL TRUST CAMBRIDGE The partnerships also enhance the promotion and outreach of the Trust’s scholarships, and scholars gain additional benefit from the activities provided by partners. For example, this year the Canadian Institute for Advanced Legal Studies invited Cambridge Trust law scholars to its biennial lectures. This long-established event has been held in Cambridge since 1979 and brings together senior lawyers from every province in Canada. PARTNERSHIP NEWS PARTNERSHIP The Trust continues to widen the scope of its programmes and therefore the range of students it can support. This year it signed new agreements with two relatively small but significant new partners – Jusoor, an NGO formed by Syrian expatriates to help fellow Syrians to study at leading universities around the world, and the AlThuraya Foundation, a charity working on the advancement of education in the Middle East/North Africa region. At governmental level, the Trust is pleased to have renewed its Welcome Event 2017 commitments to support research students both from Chile, where it partners with CONICYT, the National Commission for Scientific & Technological Research, and from Egypt, where it One of the roles that the Trust plays within Cambridge is enabling signed a new agreement with the Ministry of Higher Education & research institutes, departments and colleges to use restricted funds Scientific Research. towards attracting and retaining the very best students, at any degree level. One such partnership, recently renewed and offering New Zealand is always well-represented in the community of a full scholarship to an international student each year, is with the international postgraduates in Cambridge, and this year the Trust and Cambridge Cancer Centre, a virtual organisation that brings together the Rutherford Foundation renewed their partnership to fund PhD researchers from Cambridge and surrounding areas whose work has students in the fields of science and technology. current or potential application to cancer research. 8 9 SCHOLARSHIPS AWARDED The objective of the Trust is to provide financial These now: support to enable students to benefit from education at the University of Cambridge. It offers • prioritise applicants for scholarships on the basis of the outcome scholarships to students who have been offered of a central funding competition, with departmental scores being places at the University at all levels of study. The moderated by Selection Committees put in place by the University; Trust concentrates its resources on scholarships for • are based on a transparent and fair system, with clearly published PhD and Masters study, while maintaining a smaller selection criteria and application deadlines set out on the Trust’s programme of support for undergraduates.
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