§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what is the present value and status of the national fund; and what was the effect of the recent collapse of Barings on the valuation of the fund. [16802]
§ Mr. NelsonThe value of the national fund at 16 March 1995 was £114 million. The trustees of the fund are Baring Brothers and Co Ltd. The valuation of the fund has not been affected by the recent collapse of Barings.
§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer when the last White Paper was produced which covered the latest position of the national fund. [16804]
§ Mr. NelsonThe last White Paper which covered the latest position of the national fund was produced in December 1984, giving a statement of the progress of the fund during the years ended 31 March 1982 and 31 March 1983.
§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what fee or other monetary benefit is obtained periodically by the trustees of the national fund. [16806]
515W
§ Mr. NelsonA management fee is paid annually to the trustees. In the financial year 1992–93 the fee amounted to £118,719.
§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what plans he has to change the trustees of the national fund, following the takeover of Barings by ING Bank of the Netherlands. [16801]
§ Mr. NelsonThe Chancellor has no powers to change the trustees of the national fund. The trustees were chosen by the original donor who provided anonymously the gift which established the fund in 1927.