Positive performance for trust despite market volatility

Shetland Charitable Trust’s investments grew to £301m this year despite market volatility in the wake of the coronavirus crisis.

Trustees met virtually on Thursday to discuss an investment performance report up to March 2020.

Around the world markets collapsed from mid-February by as much as 30 per cent due to the pandemic, according to the report, but there was a gradual recovery up to the end of March, which continued through April, May and June.

The trust’s investments exceeded their benchmarks over a 12-month period and increased by around £19m from £282m.

The fund had been “doing very well” in the 12 months up to the Covid-19 crisis, said executive business manager Raymond Mainland, which had its impact. In spite of this the trust still achieved a positive return.

These long-term investments and their performance are important to the trust and the achievements of its outcomes and objectives, including funding Shetland Amenity Trust, Shetland Recreational Trust and Shetland Arts.

The trust’s investments are managed by four fund managers: Baillie Gifford, BlackRock, Schroders and Insight.

The “stand out performer” was Baillie Gifford, according to Mr Mainland, while other managers’ performance reflected the market.

Most of the trust’s positive performance was driven by Bailie Gifford, which manages more than half its investments (£152.1m) and returned 18.7 per cent compared to an average market return of -6.7 per cent – more than 25 per cent higher.

ONE COMMENT

Add Your Comment
  • Peter Hamilton

    • July 10th, 2020 10:26

    It is high time Shetland’s Charitable Trust consulted with the community on the disbursement strategy. There could also be a free standing advisory group including people on benefits.

    REPLY

Add Your Comment

Please note, it is the policy of The Shetland Times to publish comments and letters from named individuals only. Both forename and surname are required.

Comments are moderated. Contributors must observe normal standards of decency and tolerance for the opinions of others.

The views expressed are those of contributors and not of The Shetland Times.

The Shetland Times reserves the right to decline or remove any contribution without notice or stating reason.

Comments are limited to 200 words but please email longer articles or letters to editorial@shetlandtimes.co.uk for consideration and include a daytime telephone number and your address. If emailing information in confidence please put "Not for publication" in both the subject line and at the top of the main message.

200 words left

This site uses Akismet to reduce spam. Learn how your comment data is processed.

logo

Get Latest News in Your Inbox

Join the The Shetland Times mailing list to get one daily email update at midday on what's happening in Shetland.