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HEFCE closed at the end of March 2018. The information on this website is historical and is no longer maintained.

Many of HEFCE's functions will be continued by the Office for Students, the new regulator of higher education in England, and Research England, the new council within UK Research and Innovation.

The HEFCE domain - www.hefce.ac.uk - will continue to function until September 2018. At this point we will close the site entirely and all its information will only be available from the National Web Archive.

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New information about TRAC and financial sustainability published from April 2018 can be found via the Office for Students website.

Information published up to March 2018 will continue to be available on these pages.

MSI quick links

 

Background to the MSI

The MSI is a forward-looking, institution specific measure, which is intended to calculate the level of cash generation the institution requires for sustainability based on its own financial strategy and investment needs.

It was developed by the Financial Sustainability Strategy Group (FSSG) as an alternative basis for the economic adjustments previously used in TRAC: the Return for Financing and Investment and the Infrastructure Adjustment.

Development of the MSI

Prior to its launch in 2017, the MSI was piloted with the HE sector for several years and was tested extensively in order to develop a robust framework for implementation.

Information on the early development of the MSI can be found on the Assessing Sustainability pages, as the MSI and Annual Sustainability Assurance Report (ASSUR) were initially developed in tandem.

Read the report

Report on the implementation of the Margin for Sustainability and Investment

Download the FSSG report on the implementation of the MSI November 2017 as PDF (779 KB) Download the FSSG report on the implementation of the MSI November 2017 as MS Word (106 KB)

Letter from the Chair of FSSG on the implementation of the Margin for Sustainability and Investment

Download the FSSG Chair letter_Implementation of the MSI November 2017 as PDF (383 KB)

Page last updated 28 March 2018