Equity returns boost charity funds

Charity funds have gained 3.7 per cent during the second quarter of 2007 as a result of robust equity performance, according to new figures from WM Performance Services.

The highest equity returns were from the Pacific Rim and also in emerging markets, which recorded returns of more than 10 per cent. Europe saw returns of 7 per cent, and North America 4.3 per cent.

UK equities increased by 4.5 per cent and Japan gained 4 per cent in local currency terms, but in general, bond values were down. Conventional and index-linked UK government bonds produced small negative returns of -2.3 per cent and 1.5 percent respectively. Overseas bonds fell by 4 per cent due to the currency impact, and property gained just slightly more than 2 per cent.

Jeanette Patrizio, head of WM Performance Services, said: “Equity markets advanced strongly during April and May before returning some of these gains in June.

“With bond values falling during the quarter, charity investors were well placed to benefit from having more than three-quarters of their assets, on average, invested in equities.”

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