Dip in UK charities investment income reported
Charities
7th August 2009
Charity investment income has fallen by £239 million since the beginning of the recession, a new report has revealed.
Organisations with a total investment portfolio of £5.6 billion surveyed by fund manager Cordea Savills and investment manager Rensburg Sheppards experienced an average fall in income of six per cent during the period in question, compounded by a dip in corporate and individual contributions.
A total of 73 per cent of respondents admitted that they were concerned about the potential impact of the economic downturn on their income receipts.
Andrew Allen, director of research and strategy at Cordea Savills, remarked: "Charities' reliance on investment income has put them at the mercy of the recession."
However, the study also concluded that the income drop is not as sharp as had been feared and British charities are planning to invest more in property over the coming months.
A campaign group of charities recently welcomed the news that all text message donations will now be given a unique number to ensure that they are not subject to VAT charges by mobile phone companies.
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