Modest returns to form

Finance | 1 Jun 2005

The modest return of charity funds in the first quarter of 2005 are 'understandable' in the current low inflation environment, according to investment performance company WM. Its preliminary results reveal that charity funds started the year quietly, gaining just over 2 per cent during the first quarter on the back of respectable UK equity performance. For the last 12 months, the average charity fund achieved a return of 13 per cent, while the return for the last three years, the most typical performance assessment period, is just under 3 per cent per annum.

The highest equity returns were recorded in the UK and the Asia Pacific ex-Japan region, both of which gained around 3 per cent. Europe (ex-UK) returns were lower, at 1.5 per cent, while North America and Japan recorded marginally negative returns. UK government bonds, conventional and index linked also produced slightly negative returns, while property remained a strong performer at almost 3 per cent.

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