Charity investment services more popular as savings rates remain low?

Charity investment services may become more popular, as a new survey reveals 100 per cent of third sector groups are unhappy with the savings rate offered by banks.

The Fair Investment Company (FIC) reports the average instant-access rate for such groups is 0.29 per cent, meaning donation-reliant organisations are losing money due to inflation.

And charity investment services may therefore become more popular, as bodies seek to earn a better return on assets and secure a brighter future for their not-for-profit activities.

Director David Doulton commented: "I am not at all surprised that all the charities polled said they are unhappy with their savings account rate," observing even a three-year fixed account will only bring them a return of 1.85 per cent on their investment.

FIC also revealed 99 per cent of businesses are not satisfied with their asset returns from such vehicles, as the average instant-access rate is only slightly higher at 0.52 per cent.  ADNFCR-2318-ID-800028082-ADNFCR