BBC News – A hedge fund has emerged as one of the UK’s most generous philanthropists, says BBC business editor Robert Peston.
Accounts just filed show the fund – The Children’s Investment Fund (TCI) – gave £50.4m to its charitable arm in the year to 31 August, 2005.
Its connected charity, the similarly titled Children’s Investment Fund Foundation, works to alleviate child poverty in the developing world.
The hedge fund hands over up to 1% of its assets.
At present, the charity is endowed with £63m, and TCI has put a further £33m into another charity registered in the US.
