Charities warned off current accounts - June 30th 2007

Charity, Volunteering and Grant News

Charities warned off current accounts

Charities should invest their cash wisely rather than leave it in current accounts, the Charities Aid Foundation has warned.

"Cash gets forgotten by charities," said Ron Green, CAF's senior manager for product development and distribution, at its financial services conference last week. "People tend to leave it in accounts without asking if they are getting a good return."

Pointing out that 70 per cent of all charities have cash as their sole investment holding, Green said it was important to watch where best to invest it.

He said cash was now a source of capital security that had not been evident in the bond market in the past two years.

Source: http://www.thirdsector.co.uk/Channels/Finance/Article/666888/Charities-warned-off-current-accounts/