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Scots charities profiting from new rules
By David Ainsworth, Third Sector, 7 May 2008
Small Scottish charities are starting to take advantage of wider investment opportunities permitted by new rules introduced in the Charities and Trustee Investment Act for Scotland, according to a social enterprise fund manager.
The act allows Scottish charities to put money into common investment funds based outside the country for the first time.
Andrew Robinson, director of CCLA, a charity that provides investment opportunities for other charities, said his organisation's common fund had received its first investment of £250,000 after he spoke about the benefits of common funds at a Scottish social enterprise conference.
Martin Sime, chair of umbrella body the SCVO, said thousands of Welsh charities invested in common funds, which indicated that there were similar opportunities for Scottish investors.
"The investment culture is changing," he said. "Scottish organisations now have the same range of opportunities as those in England and Wales."
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