TNAG-1855-FCO40-2630-Legislative-Council-of-Hong-Kong-memoranda-and-minutes-of-me-1989 — Page 160

HONG KONG LEGISLATIVE COUNCIL -8 March 1989

香港立法局

一九八九年三月八日

33

Annex

As at 1987-88 year end, the following Trust Funds were valued approximately as follows (as compared to the year of inception except for items (g) and (h), please see note):

(a) Sir Murray MacLehose Trust Fund

$48 million ($22.71 million in 1982)

(b) Sir Edward Youde Memorial Fund

$78 million ($83 million in 1987)

[It was unfortunate that the stock market crash occurred in the first year of the establishment of the Sir Edward Youde Memorial Fund, before it was given any real opportunity to achieve growth.]

(c) Brewin Trust Fund

$36 million ($0.34 million in 1955)

(d) Grantham Scholarships Fund

$44 million ($0.43 million in 1955)

(e) Sir Robert Black Trust Fund

$16.40 million ($1.43 million in 1962)

(f) Li Po Chun Charitable Trust Fund

$165.51 million ($2.98 million in 1964)

(g) General Chinese Charities Fund

$77.32 million ($0.58 million in 1955)

(h) Chinese Temples Fund

$71.38 million ($0.19 million in 1955)

Note: The General Chinese Charities Fund and the Chinese Temple Fund were established shortly after the enactment of the Chinese Temple Ordinance in 1928. However, the earliest accounting records available now pertain to the year 1955. Besides investment, public donations have also contributed to the growth of these two funds.