The credit crisis that has pounded global stock markets may induce The Wellcome Trust to reverse its strategy of divesting public equities, according to the head of the medical charity's £14bn (€20bn) portfolio.
The charity slashed the share of equities in its portfolio from 70% to around 50% in recent years, cashing in on surging prices and diversifying away from holdings seen as vulnerable to a tightening in the credit market. Funds raised were placed in alternative investments, such as private equity and hedge funds, that now make up half of all holdings.