10th December 2018
Established 1872. Online since 1996.

Fall in value of trust investments

The value of Shetland Charitable Trust’s externally managed investments tumbled in October due to the major drop in world equity markets.

They dropped by £20 million from £283 million to £263 million during that month as continued political uncertainty, trade disputes and Brexit damaged confidence.

The downturn followed moderate growth over the three-month period from the end of June of 1.6 per cent.

“The Trust views its investments over the long term, as short term fluctuations in markets are inevitable,” said trust chairman Bobby Hunter.

“We also view our spending decisions over the long term so that we can pass on the reserves, preserved against inflation, to future generations.”

Meanwhile, trustees have agreed to disbursements for 2019/20 worth just under £7.4 million – money which, it says, will benefit people in the isles “of all ages and in all walks of life”.

“That brings the Trust’s spending since it was established in 1976 to well over £320 million,” said Mr Hunter.

2 comments

  1. Peter Hamilton

    Bobby Hunter, this is so out-of-touch it is sickening.

    Whilst hard up families struggle to afford a visit to their local swimming pool, let alone a trip to the cinema, it is hard to see how the money benefits people “of all ages and in all walks of life”. If that is the goal half the trustees should be focused on disbursing the money fairly and be working out how to do that with, not for, the community they are meant to benefit. Yet there is no such intention. Instead there is zero community engagement, just hollow words and paternalistic backslapping.

    Years have been wasted and you have totally failed to ensure the trust can meet the objectives you claim for it Bobby. This lamentable failure has gone on under your watch for too long. Put conditions on the bodies SCT funds so that all can benefit, or resign. Better still, just resign. You have not earned and do not deserve the trust of the people you pretend to serve.

    Shetland deserves better. Shetland deserves a say.

    Why can’t poorer bairns gat a fair benefit Bobby? What have you been doing all this time?

    Reply
  2. Mr ian Tinkler

    Bobby Hunter, founder of the pro-Viking Windfarm group, “Meanwhile, trustees have agreed to disbursements for 2019/20 worth just under £7.4 million – “!!. Just how much Trust monies to the Viking Energy rip off, under Hunter’s tender hand and guidance? (£10 million at the last count). Hunter again, claims,” benefit people in the isles “of all ages and in all walks of life”. This man out Trumps Trump!!

    Reply

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