Returns Invested in Children and Education
Asian Hedge Fund Charity Raising Money for Minors
Returns Invested in Children and Education, the charity set up by Asia’s hedge-fund industry, is stepping up efforts to raise money for minors, including the sick in Cambodia and those growing up in India’s brothels.
The charity, known as RICE and started by hedge fund managers in 2006, is seeking to widen the source of its funds and allocate the money to projects in Asia after registering in Singapore as an International Charitable Organization in September, said Paul Smith, the international chief of its fund- raising committee. It previously raised money privately and was funded mainly by a few wealthy individuals, Smith said.
Asia-focused hedge funds attracted more than $3.6 billion in net new capital in the first quarter, taking the industry’s total assets to $88 billion as investors returned after the global financial crisis, lured by the region’s economic growth that is outstripping the rest of the world, according to the Chicago-based research firm Hedge Fund Research Inc. Source
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