Johnston’s appointment has been welcomed by Danny Truell, Chief Investment Officer at the Wellcome Trust.
“Investments are key to the Wellcome Trust’s business, enabling us to support the brightest scientists with the best ideas,” says Truell. “With our asset base at &pound12.2 billion, there is considerable scope both to add incremental returns and to manage risks even more effectively. Tim’s trading and hedge fund skills will enable us to diversify our skills and better exploit technical market opportunities to improve the performance of the fund.” The Wellcome Trust was established in 1936 through an endowment in the will of Sir Henry Wellcome. Since the flotation of Wellcome plc in 1986, the Trust’s investment returns have averaged 15% per annum. The Trust spends over &pound600 million each year to support and facilitate innovative science and medicine on a global scale. Figure as of end of March 2009.
Craig Brierley Senior Media Officer Wellcome Trust T +44 (0)20 7611 7329 E