FINANCE NEWS: Charity consultant says sector needs to take more risks

Conservative thinking is preventing charities from taking advantage of investment opportunities in Community Development Finance Institutions (CDFIs), charity consultant David Carrington has claimed.

Speaking at the Community Finance Association conference in Glasgow, Carrington, former chief executive of the PPP Foundation and a member of the Social Investment Taskforce, said that an "investment orthodoxy

was stopping a significant flow of funds into CDFIs from charities.

Trusts, in particular, could invest more of their funds in CDFIs under Programme Related Investments, yielding a financial return while simultaneously furthering their charitable aims.

"At the moment, charities' investments are handled by hard-nosed businessmen while their grants are managed by bearded Guardian readers,

said Carrington.

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