The Alternative Investment Management Association (AIMA), the global hedge fund association, has released the first global review of the hedge fund industry’s charitable activities.
The 44-page report, Contributing to Communities, gives a detailed picture of the global hedge fund industry’s public charitable activities, from workplace-giving schemes and industry fundraising campaigns for charity to individual examples of philanthropy.
The report focuses on the beneficiaries of hedge fund industry giving around the world, including schools, colleges, hospitals, community facilities and cultural landmarks.
And the report outlines some of the more intangible benefits of the industry’s activities including improvements to charities’ strategic planning and operations.
The findings are based on interviews with individuals at charitable bodies and hedge fund manager firms and on publicly-available data from organizations, companies and individuals. The report does not cover private acts of philanthropy or charity, however.
Andrew Baker, AIMA CEO, said: “With this report, which we believe to be the first of its kind compiled, we have sought to look at the hedge fund industry’s charitable and philanthropic activities globally, including projects and donations that support education, healthcare, the arts and disadvantaged communities throughout the Americas, Europe and Asia.
“This report just focuses on those charitable and philanthropic activities that are in the public domain. It is worth noting that very often the industry’s charitable and philanthropic activities are done in private, and without publicity.”
Mr. Baker added: “AIMA would like to thank our members and the industry charitable organisations for all their help in putting together this report.”