Fund managers in the wings
Article Abstract:
The Charities Act 1992 is expected to dramatically alter the management of the investment funds held by UK charities. The new act, which replaces the Charities Act 1960, mandates that the Official Custodian of Charities turn over administrative control of investment funds held by charities back to the charities themselves. This particular provision has generated much excitement among City-based fund managers, many of whom have set up specialist divisions to tap the estimated 15 to 20 billion pounds sterling worth of tradeable assets that may become available for fund management when the new Charities Act comes into effect. Some observers, however, have cautioned against over-optimism on the part of fund managers, noting that the divestment process may be slow since many parts of the new Charities Act do not become effective until suitable regulations are finalized by the Home Office.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
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Winners' ever rising standards
Article Abstract:
The 1992 Annual Report and Accounts Award yielded five winners who were adjudged to have the best-prepared financial reports among the various charities who participated in the event. In category 1, covering charities with income of over 1 million pounds sterling, the first prize went to the Cancer Relief MacMillan Fund, which was cited for its upbeat and highly readable report. In category 2, covering charities with income between 100,000 and 1 million pounds, the first pize was awarded to the Acorns Children's Hospice, whose report was cited for conciseness and excellent graphics. In category 3, covering charities with income below 100,000 pounds, the first prize went to The Manic Depression Fellowship, which was cited for the informative text and imaginative use of color in its report. The two other awardees, WaterAid and The Samaritans, were given the judges' discretionary prize.
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
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