Matching funds
John Dale suggests that the reduced financial strength of US foundations highlights some lessons for UK charity trustees.
The recovery in global equity markets during the second quarter of 2009, together with the significant closure of yield spreads within the corporate bond markets, suggests that a level of stability has returned to the financial world. It is difficult, therefore, to appreciate the enormity of the upheaval that occurred over the last year when the Western financial system was in serious danger of failure.
Author: John Dale
John Dale has been responsible for investing charitable funds for more than 35 years. He became a director of Kleinwort Benson Investment management following the acquisition of Grieveson Grant & Co and was head of charities at Kleinwort Benson Private Bank before joining JM Finn & Co in the same role in 2006.
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