Finance News: More UK trustees support equities

UK charity trustees have more faith in equities than their German counterparts, according to new research.

A poll by financial consultants Watson Wyatt found that 52 per cent of UK trustees believe that developed markets' equities will provide the highest rate of return over the next 10 years.

But just 32 per cent of German trustees share this belief, with 18 per cent selecting corporate bonds as the best-performing asset class - compared with 4 per cent of UK board members.

More than 50 per cent of Swiss trustees predict developed markets' equities will outperform other assets. But 21 per cent also favour emerging markets' equities, a confidence not widely shared in the UK.

Mirko Cardinale, senior economist with Watson Wyatt, said UK trustees "have not come to terms with the importance of geographical diversification to broaden the investable universe and maximise efficiency".

- See Focus Finance, p21

KEY POINTS

- Most UK charity trustees believe developed markets' equities will give best returns in next decade

- German trustees disagree

- UK charities could be too tied to UK equities, says Watson Wyatt.

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