Charity investments remain solid

Charity investment funds remained in positive territory during the third quarter of 2007 despite the 'credit crunch', according to figures from WM Performance Services.

The sector’s investments gained 0.4 per cent in the three months to the end of September and stayed in the black despite huge stock market volatility in August.

But the growth in funds has slowed considerably, down from 3.7 per cent in the second quarter. Overall, funds have gained by 11.7 per cent in the last 12 months.

UK equities recorded a negative return of 1.8 per cent. Overseas equities grew by 1.8 per cent. UK bonds rose by 4.1 per cent and overseas bonds by 5.6 per cent. Property gained by 0.2 per cent.

Tim Wilson, leader of strategic asset allocation with Newton Investment Management, said it had taken the markets just three weeks to bounce back from losses in August.

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