THE ZETLAND AND HONG KONG LODGE No. 7665 CAPITAL ENDOWMENT FUND
TRUSTEES' REPORT FOR THE YEAR ENDING 31st OCTOBER, 2024
During the past year The Zetland and Hong Kong Lodge No. 7665 CAPITAL ENDOWMENT FUND has not been as active in fund raising, as in previous years. Indeed now that the Fund’s initial target of £50,000 had been met, no special event was held during the year with the purpose of raising money . The Fund’s income on the year was £3,036.44 and most of this was received from investment income, rather than new donations.
The fund made two donations during the year. One was a further donation of £250 to Up’ ‘N Away, a small London based charity supporting young people, and the other a payment of £500 to Yorda Adventures, a similar charity also supporting young people in London. Both these charities have been selected as they are small and in need of support, and a small donation from us is very meaningful to them.
Thanks to interest rates having risen, the Fund is now receiving a good income and the Trustees will be giving further thought to distributing some of this, rather than continuing to accumulate it. Over half of the Funds assets are invested in M & G Charifund, which although a large, well managed fund, designed especially for charities, is a fund subject to market volatility and to date there has been little capital appreciation. However, at the time of writing this report, the yield is 6.2% and that is a most attractive figure, unobtainable elsewhere with safety.
The Fund’s total assets as at the end of the financial year were £53,464.78, with the Fund’s investment in Charifund valued at cost.
7[th] May, 2025
VICTOR I. FALK Secretary