Annual Reports & Fin Stmts

RNS Number:8647P
The Wellcome Trust
19 January 2007


The Wellcome Trust and Wellcome Trust Finance plc have today published their 
2006 Annual Reports and Financial Statements. These are available from the 
Trust's website www.wellcome.ac.uk.

Bill Castell, chairman of the Wellcome Trust, said:

'Sir Henry Welcome's last will and testament established the Wellcome Trust in 
1936 and since then it has been a force for the advancement of our understanding 
of human and animal health and disease. This potential has grown over the last 
decade with the significant increases we have seen in our endowment as our 
portfolio diversified.

In the last financial year to 30 September 2006, expenditure on charitable 
activities in support of our mission totalled #484 million. This was made 
possible by the good returns on our investment portfolio, where we achieved an 
overall return of 12.8%, and the investment asset base rose to #13.9 billion 
(including the proceeds of the #550 million bond issue in July 2006).

There has been important diversification of the portfolio during the year, with 
increases in the use of hedge funds, the instigation of an active currency 
strategy, and a reduction in equities managed by UK managers. Our investment 
portfolio was further enhanced when, in July 2006, we became both the only UK 
domiciled non-public sector organisation with a AAA/Aaa credit rating and the 
first UK charity to issue listed bonds. The #550 million bond issue should 
enable us to generate more income over the long term to support our mission.

Basic research underpins future discovery and application. The support of 
investigator led research and career initiatives therefore remains the single 
biggest element of our funding portfolio. The primary focus of this activity is 
in the UK, where we provided #278 million during the financial year to support 
biomedical research.

Our focus over the next year will remain to fund the best people, with the best 
ideas, in the best environments and to create the investment returns which we 
need to provide the funds. We expect to see growth in our funding for both 
clinical research and our research activities overseas. Another key activity 
will be the preparation for the opening next summer of Wellcome Collection at 
183 Euston Road in London and ensuring its ongoing success.

There is much to be done globally in facing the challenges to the health of 
humankind and we are looking forward to the opportunities and challenges the 
year will no doubt present.'






215 Euston Road  London  NW1 2BE  UK
T+44 (0)20 7611 8866  F+44 (0)20 7611 8416 www.wellcome.ac.uk

Registered charity No.210183 Trustee; The Wellcome Trust Limited  
Registered in England No.2711000 
Registered office 215 Euston Road London NW1 2BE


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