Feature – Charities


CHARITIES AND COVID: AFTER THE STORM


While the uncertainty is clearing following the on-set of Covid, has investment optimism returned to the UK’s charities? Andrew Holt takes a look.


Covid cast a long shadow over many institutional investors. Yet despite the uncertainty caused during the dark days when the pandemic first took hold, the picture for the UK’s charitable foundations is now one of a steady movement towards normality.


This was the headline from Newton Investment Management’s eighth annual Charity Investment Survey. Uncertainty has subsided significantly, the survey found, but are charities feel- ing positive about their medium and long-term investments? “We feel more certain about the future, but less positive,” says James Brooke Turner, investment director at the Nuffield Foun- dation. “In other words, our outlook is based on surrendering some of the returns that we have received over the past few years, whilst at the same time compensating for higher inflation.” It appears the uncertainty that engulfed the institutional investment markets is lifting. “Following the unprecedented impact of the pandemic on UK charities, 2021 has been a story of resilience and recovery,” says


36 | portfolio institutional | December-January 2022 | issue 109


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