Tuesday, 30 September 2014
Last updated 1 hour ago
Jun 8 2010 | 12:23pm ET
The Charitable Foundation that gives The Children’s Investment Fund its name has fallen on hard times along with the hedge fund.
The Children’s Investment Fund Foundation, which receives a set portion of TCI’s fee income, received just £19 million from the hedge fund last year, down from £486 million in 2008, Financial News reports. TCI has been hurt by poor performance in recent years and has seen a raft of high-level departures over the past several months.
Not even its own charity has stuck by it, with foundation slashing its investments in the hedge fund from £1.5 billion—essentially all of its money—to just £17 million, as part of its plan to diversify its investments.
The TCI Foundation said its assets had fallen by £100 million last year after doubling in 2008. It awarded £17.9 million in grants, down from £30.6 million in 2008. The charity said the lower payouts reflected a streamlining in its due diligence processes.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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