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Credit crisis may prompt Wellcome return to equities

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.

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