The financial health is strong. Last year, The AD Trust embarked on executing a new investment policy which had been agreed at the end of the year before. The strategy involved averaging into investments over a period of time so not all of the trusts resources were fully invested by year end. It is a cautious strategy across asset classes and designed to protect capital and provide steady returns. These returns are expected to be at a modest shortfall to grant making levels. The funds invested are consistent with the strategy returned in 2014. The AD Trust’s performance is reviewed quarterly by the trustees.