27/03/2013
TCI stops charitable activities
P { margin-bottom: 0.08in; } The hedge fund which refers to itself as The Children’s Investment fund, or TCI, is putting an end to the charitable activities which distinguished it in previous years in the world of alternative management, FINalternatives reports. TCI has decided no longer to pay a part of its commissions, of about one third, to the TCI Foundation, an organisation into which it has been paying money since its debut in 2004. It is also discontinuing its donations of 0.5% of its assets under management when the fund earns returns of over 11%. According to one source, TCI has decided to discontinue the practice “largely because the foundation has achieved sufficient size.” The TCI Foundation was thought to have about GBP2bn in assets under management as of August 2011. It has paid slightly under 2% of this amount to charitable causes.
