Thursday, 2 October 2014
Last updated 35 min 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.
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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