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TCI hedge fund stops payments to linked children’s charity

FN – The fund stopped making contributions to the foundation during 2012, “mainly because the foundation is large enough,” one of the people said.

Hohn set up his firm a decade ago so that it would automatically donate to the charity the profits he might have taken for himself every year: it amounted to about a third of its 1.5% management fee, plus a further 0.5% of assets under management in any year when the fund made a return to investors of more than 11%.

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