2021 Charity Survey

This year’s Charities Survey results reflect an extraordinary year for many charities. We last carried out the survey in 2018 and the difference in attitudes is stark, with cash reserves higher, investment income less secure and charities continuing to move away from the UK in their investment portfolios.

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The most notable change from previous surveys is the growth in charities’ cash reserves. There was a near 40% increase in companies holding more than 12 months’ worth of cash reserves (from 25% to 35%). Partly, this is caution in case of another shock. The pandemic hit some charities hard, raising demand for their services at a time when fund raising became more difficult.

However, this isn’t the whole story. The trend towards reduced UK equity exposure has strengthened through the pandemic, with 32% of charities decreasing their UK weighting. This was despite a resolution on Brexit, a rapid UK vaccine roll-out, relatively cheaper valuations and higher income yields compared to the rest of the world. This probably reflects the continued out-performance of US equities and US technology stocks in particular. Looking ahead there are some significant changes and challenges for the charity sector including the coming impact measurement revolution.


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Nick Murphy's Profile Photo

Nick Murphy

Head of Charities, Investment management

Investment management - Charities
London - 25 Moorgate
Sharon Hanshaw's Profile Photo

Sharon Hanshaw

Director - Business Development

Investment management - Charities
London - 25 Moorgate
Keith Burdon's Profile Photo

Keith Burdon

Head of Charities, Scotland & NI

Investment management - Charities


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