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Charitable trust funds grow to £261 million

SCT chairman Bobby Hunter.
Charitable trust chairman Bobby Hunter. Photos: Shetland News

THE VALUE of Shetland Charitable Trust (SCT) has grown by more than 13 per cent over the last eleven months to £261 million.

 The trust’s four fund managers all performed better than expected with the best returns being made in the Far East and China in particular.

Trustees at Thursday night’s trust meeting expressed their satisfaction that they had reduced the trust’s spending in order to build up funds and make the trust more sustainable.

Speaking after the meeting, SCT chairman Bobby Hunter said the latest figures were proving that the trust’s strategy was the correct one.

He said it was too early relax the trust’s strict spending policy to local organisations but added that this could change after 2020.

“The stock market is the stock market, and while the trend is up it can be down at some point in the future,” Hunter said.

“We are trying – as best we can – build up a fund that by 2020 we can start increasing our expenditure again.”

The public part of the trust meeting lasted exactly nine minutes during which trustees managed to work through five items on the agenda including the management accounts for the nine months to 31 December and the investment review report.