The portfolio will have a core investment in UK equities, which will be managed by Jupiter UK special situations manager Ben Whitmore with ethical restrictions.
Jupiter’s currently has £125m worth of assets with charity clients.
Jupiter institutional client director Charlie Crole says: “The Joseph Rowntree Foundation is a prestigious organisation and we are delighted to have won this mandate from them.
“Our appointment is an endorsement not only of Ben’s strong investment record but also of Jupiter’s broader investment and asset allocation skills, particularly in relation to larger institutional clients such as charities. Once again the strengths Jupiter has developed in the field of green and socially responsible investment, research and engagement during over the past 21 years have also been demonstrated.”