Community / Value of charitable trust investments rises – but volatility remains

Shetland Charitable Trust's headquarters in Lerwick.

THE VALUE of Shetland’s Charitable Trust external investment funds has recovered somewhat in the early part of 2023.

The latest update on the value of funds showed a market value on Wednesday (8 February) of £392 million, up £35.5 million since the end of December.

However, the figure still represents a significant drop from the near £488 million value at the end of December 2021.

Economic uncertainty has affected the financial markets over the last year, which remain turbulent.

Charitable trust chairman Dr Andrew Cooper said: “It is encouraging to see this recovery under way, although markets remain volatile.

“The past year has been a reminder of the risks of investing for growth but, as we always try to emphasise, the trust gauges performance over the long term.

“We are still meeting our intended targets on investments and spending.”

A report presented to a meeting of trustees on Thursday said the value of funds at the end of December was £356.5 million.


Over the nine months through to 31 December the trust made a loss on its investments of £74.8 million.

The trust disburses grant funding to a range of organisations and charities in Shetland.

Its aim is to “benefit and improve the quality of life of all people living in Shetland and to preserve the trust reserves for future generations”.

The trust began life in 1976 with a pot of £81 million from oil revenues and has since spent around £350 million on community services.

Thursday’s meeting took place over Zoom instead of in the charitable trust boardroom amid increasing Covid cases in Shetland.

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