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| HUGE
INCREASE IN AMOUNT OF FUNDING FROM TRUSTS |
18/02/03 |
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Trust
grants remain at record levels, despite recent stockmarket turmoil, according
to research from the Directory of Social Change.
Editors of the DSC’s latest edition of A Guide to Major Trusts, Luke FitzHerbert
and Jo Wickens say that a number of trusts have “swung into large-scale
action”, significantly increasing the funds available.
This has outweighed the few reductions that have been seen. Trusts do come
in for criticism, however, over the spending of some on management charges
to trustees or organisations connected to them. Though legal, the editors
argue that the practice should not occur unless absolutely necessary.
The guide also takes a swipe at investment managers, noting concern at the
hundred of millions of pounds spent annually on advice by trusts, when similar
returns could be made in index-tracker or common investment funds at a fraction
of the cost.
The guide is available from the DSC on 020 7209 5151 or
at www.dsc.org.uk
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