Wednesday, 3 September 2014
Last updated 13 hours ago
Mar 25 2013 | 1:17pm ET
The Children's Investment Fund has ended the charitable practice that gave the hedge fund its name.
London-based TCI has stopped donating a portion of its fees to The Children's Investment Fund Foundation. The hedge fund has given one-third of its management fees to the charity since its debut in 2004, as well as donations of 0.5% of its assets under management in years it returned in excess of 11%. What is more, TCI founder Christopher Hohn and his wife have personally given more than £1 billion to the organization.
TCI stopped making contributions to the charity last year, "mainly because the foundation is large enough," a source told Financial News.
The TCI Foundation had more than £2 billion in assets as of August 2011, paying out slightly less than 2% of that sum to charitable causes, primarily those focused on children's nutrition and education. Of TCI's US$9.6 billion in assets, about US$4 billion is a separately-managed account for the foundation.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The twin debacles of MF Global and PFG have damaged the reputation of the futures industry demanding an examination of customer protection rules. New rules are being implemented, which will add cost a...