Welcome to your local community website...

Northwick Park Hospital financial loss

Posted by Ben Clover on Dec 19, 08 01:58 PM in Local Authority


Charitable donations invested by The North West London Hospitals NHS Trust have lost more than £400,000 in value in just eight months due to the credit crunch.

The trust, which manages Northwick Park Hospital in Watford Road, Harrow, and Central Middlesex Hospital in Park Royal, sunk sums bequeathed in wills and other monetary gifts into a fund managed by CLLA Investment Management and worth £5.6 million.

On April 1, the fund had made a profit of £412,559 but by November 30 2008 this had fallen by £902,726 because of the credit crunch.

The trust's board met on December 17 and was told if it cashed in the charitable fund now, it would lose an estimated £420,182.

In light of this, the board agreed to slash 10 per cent off the value of the fund to bring it closer to £5m.

We'd like to hear from you.
Send your stories, pics and videos

Leave a comment


Type the characters you see in the picture above.

Search in your area

Keep up to date

RSS feed icon Keep up to date Subscribe to our RSS feed | what is RSS?

Recent Comments

Useful Links

Get involved

Our website aims to cover anything and everything happening in your community from news to local amateur sport and clubs to events. As users of the community we want you to set the agenda by telling us about the things that affect you, the groups and societies you run and the events you've been a part of. Send us your stories, pictures and news or join the forum to discuss local issues with your neighbours. If you've got something to say and want to be involved contact Ian Proctor or call 01895 451000.

Sponsored Links