Wellcome’s Investment Head Says Trust Is in Good Shape to Ride Out Recession
April 8, 2009
The giant medical-research charity Wellcome Trust is well positioned to weather the economic downturn, chief investment officer Danny Truell tells the Financial News in an interview reprinted in The Wall Street Journal.
The $19-billion trust, which ranks second worldwide (behind the Bill & Melinda Gates Foundation) in financing health research, has “been quite good at recessions,” Mr. Truell said, noting that Wellcome began selling off risk assets three years ago in anticipation of a looming credit crunch.
