5. Management fees and other costs Management fees and other investment costs represent costs directly incurred, both internally and externally, in managing the Trust’s investment portfolio.


Group


2011 £m


External investment management fees Internal investment administration costs Other investment costs


Investment support cost allocation


6. Charitable activities Group


Grant


funding £m


Science Funding


Medical Humanities and Engagement Technology Transfer


Wellcome Trust Genome Campus Trust Grant


funding £m


Science Funding


Medical Humanities and Engagement Technology Transfer


Wellcome Trust Genome Campus


363.0 20.3 53.3 84.9


521.5


Direct £m


14.8 19.3 14.3 5.9


54.3


Allocated support £m


14.8 17.4 7.1 2.1


41.4


Total 2011 £m


392.6 57.0 74.7 92.9


617.2


Total 2010 £m


451.1 51.0 66.0 85.8


653.9


7. Grants awarded Grants are generally awarded to particular individuals, although the actual award is made to the host institution. Small grants may be awarded directly to individuals for the purpose of travel and for public engagement with science.


Grants awarded during the year are analysed by organisation in the table below. The grants included within Grants to other organisations for 2011 totalled less than £3.0 million (2010: £3.0 million) in value for each organisation.


363.0 20.3 53.3 —


436.6


Direct £m


14.8 19.5 14.3


111.7 160.3


Allocated support £m


14.8 17.4 7.1 5.6


44.9


Total 2011 £m


392.6 57.2 74.7


117.3 641.8


Total 2010 £m


451.1 51.3 65.5


110.2 678.1


32.4 8.6 —


4.0 45.0


2010 £m


34.0 12.0 0.9 3.5


50.4 Trust


2011 £m


30.0 4.9 —


4.0 38.9


2010 £m


31.7 11.8 —


3.5 47.0


Annual Report 2011 | 45


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