2001 report of the trustees.
In the year ending 31 December 2001 the Fund assisted 127 adults and 42 children in the UK. A total of 22 beneficiaries were accommodated in property belonging to the Fund, some receiving grants as well as accommodation. In 17 countries overseas, 43 adults and 25 children were assisted.
At the end of the year, the market value of the capital investments in the Fund had dropped from £14.5M to £12.5M. Cash deposits, however, had risen to £180,000.
Trading by the Fund's investment managers resulted in realised losses of £666,000 compared with £1.4M in the year 2000. There were also unrealised losses of £1.5M in the value of investments at the end of the year, as against unrealised gains of £527,000 at the end of 2000.
The poor performance was attributed to the poor performance of the London Stock Exchange.
The AGM of the Benevolent Fund is to be held on 4 September at the ICE.
INFOPLUS If you think the Fund could help you in any way, all you need do is call the Fund's offices on (01444) 417979. All telephone conversations are confidential.
Alternatively, e-mail benfund@ice. org. uk