Top British Grant Makers See Big Losses

The Wellcome Trust, Britain’s largest charitable foundation, suffered a nearly 9-percent loss in the value of its assets last year, the Web site of British magazine Charity Finance reports.

The trust’s portfolio fell by $2.8-billion to $21.2-billion for the year ending September 30. In its annual report, the charity said that “the depth of the financial crisis has exceeded our expectations.”

Another major British donor, the Esmee Fairbairn Foundation, saw its investment assets drop 22.5 percent to $1.1-billion, leading to an approximately 8-percent decline in giving.