The Oversight Trust has published its 2023 Annual Report and Accounts.
The report notes that the Dormant Assets Scheme was expanded in 2023, bringing additional classes of asset held by financial institutions within the scope of the Scheme, including:
· insurance
· pensions,
· investment and wealth management
· securities
The Government estimates that £880m of additional dormant assets could be made available for social investment as a result of which £738m would be made available for causes in England including those overseen by the Oversight Trust.
The Trust Chair, Sir Stuart Etherington, commented:
“2023 was an important year for the development of the Dormant Assets Scheme and we will be working closely with the new Labour Government on future allocations of funding to the Operating Companies the Oversight Trust is responsible for: Better Society Capital, Access – The Foundation for Social Investment, Youth Futures Foundation and Fair4All Finance.”
Click on the PDF below to download the full Annual Report and Accounts