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The Royal Foundation, the charitable arm of the Duke and Duchess of Cambridge, kept more than £1.1 million with JPMorgan Chase, according to the most recent filings, and still invests with the corporation today, the Associated Press has claimed. The Foundation, the report added while still referring to the 2021 filing, also held £1.7million in a fund run by British firm Cazenove Capital Management.

The organisation still keeps funds with Cazenove, which in May had securities linked to deforestation through the use of palm oil, AP wrote. 

The Royal Foundation told AP it had followed Church of England guidelines on ethical investment since 2015, and goes beyond them.

They said in a statement: “We take our investment policies extremely seriously and review them regularly”.

The foundation said management fees paid to JPMorgan were small, but declined to provide a figure.

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