Tuesday, 22 July 2014
Last updated 5 hours ago
Jun 10 2013 | 9:29am ET
If anyone was skeptical of The Children's Investment Fund's claim that its namesake charity had all the money it needed, that charity moved this weekend to ease any fears.
The Children's Investment Fund Foundation committed US$787 million to deal with children's malnutrition at a global summit in London Saturday. The gift accounted for nearly one-fifth of the US$4.1 billion raised during the Nutrition for Growth event, hosted by British Prime Minister David Cameron.
"Our approach to segmenting deaths by disease—AIDS, malaria, diarrhea, pneumonia—means that we have missed perhaps the most critical factor in preventing death, mordibity and disability," TCI Foundation chief Jamie Cooper-Hohn, the wife of TCI founder Christopher Hohn, said. "Under-nutrition is the underlying cause of almost half of global child deaths and one-third of maternal mortality."
"Today marks the start of a sustained financial and political commitment to ending under-nutrition within a generation," she added.
The TCI Foundation gift is thought to be the largest-ever single gift by a private organization to end child hunger.
TCI in March said it would end its practice of donating a portion of its fees to the foundation, calling it "large enough." The TCI Foundation had more than £2 billion in assets as of August 2011.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…