Charities 'cautiously optimistic' about investment returns
A survey of charities involved in the investment market found they were "cautiously optimistic" about returns for 2008, despite a possible economic slowdown.
More than 90 per cent of investors said that their returns would meet the needs of their charities. However, the volatility of the market is now the top concern of charities, and most said they were diversifying their holdings as a result, with more money moving overseas.
Jeremy Wells, head of charities at JPMorgan, said: “Although charities are rightly concerned by market volatility, their confidence reflects their position as long-term investors, with a positive but cautious outlook for the future.”
Wells said charities had the luxury of a long-term outlook, which helped to secure profits. He added that a willingness to diversify portfolios and bring in outside advice showed they had intelligent investment strategies.
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