New donors setting up Charities Aid Foundation Trust Accounts gave £70m in the first quarter of 2010, more than triple the £20m given in the same period in 2009.

Mike Packham, head of private clients at CAF said the increased activity signalled a resurgence of philanthropy: “During the recession committed donors didn’t stop giving but understandably many had less funds to put into trusts and if people were thinking about opening a trust they wanted to wait until their personal finances had improved, or were more certain.

“It looks like we are now seeing those people making the major commitments to philanthropy that they have been planning for some time. Timing couldn’t be better because many charities are expecting this coming year to be difficult.”

CAF is now opening as many charitable trust accounts each month as it was in early 2008 before the recession began.