Value of Queen’s private estate increases by 25 million pounds

July 28th, 2010 - 6:59 pm ICT by ANI  

London, July 28 (ANI): Royal accounts have shown that the value of the private estate of Britain’s Queen Elizabeth has increased by 25 million pounds.

“With a prudent approach to investment, it is my strong belief that we can weather the current economic uncertainties and prepare for better times ahead,” the BBC quoted Duchy chief executive Paul Clarke, as saying.

The Duchy of Lancaster, a portfolio of land, property and assets held in trust for the Sovereign has benefited from the fragile economic upturn and seen the value of its holdings increase by 8 percent to 348 million pounds.

According to the BBC, that amount contrasts with last year’s fall of 75 million pounds, almost five times higher.

The net surplus the Queen received from the duchy, used to fund the monarch’s public and private activities, stayed about the same at 13.26 million pounds.

The value of agricultural, residential and commercial property increased by 44 million dollars to 324 million dollars, and the worth of financial investments was up just over 10 million pounds to 53million pounds.

“We have experienced a rebound in capital values over the last year but the challenge is to maintain the current income levels. Inactivity is not an option.” Paul added. (ANI)

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