Press release

Wellcome Trust statement on Wonga

The Wellcome Trust has today released the following statement regarding its investment in Wonga.

The Wellcome Trust is a global charity that spends £650 million a year on research dedicated to achieving extraordinary improvements in human and animal health. We are able to support this vital work because of our endowment of £14.5 billion, which is managed by a professional investment team to realise the best possible return on our assets.

We hold a very broad portfolio, which is regularly reviewed and has increased in value by 165 per cent over the past decade. This growth has allowed us to release more than £1 billion in extra funding for biomedical research over the same period.

In December 2010, the Wellcome Trust purchased a stake in the digital finance company Wonga as a small part of our diverse portfolio. Several months ago, the Trust made the decision to sell this stake as it was no longer consistent with our investment criteria, and that sale is now complete.