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The Leadership, Governance and Management (LGM) Fund was designed to promote effective leadership, governance and management which are fundamental to the sustainability of all higher education institutions. It came to a planned end in July 2010 and this evaluation investigated the impact and outcome of the investment made through the Fund, the administration of the fund and made proposals for how the Council might support future innovative activity in these areas.

The report concludes that the LGM Fund has had a positive impact in delivering changes to LGM that the sector values and from which it derives considerable value. It has been effectively administered and has responded to changing needs during its lifetime by changing its procedures. Taken as a whole the projects have delivered value for money, with some projects delivering benefits worth many times the initial investment.

The report recommends that any future investment must be targeted at areas where the sector cannot undertake development itself and that HEFCE's future role should be as an enabler of the sector's own activities to promote enhanced LGM.