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Nobel Foundation Seeks Charity as Hedge Funds Aren’t Enough

The Nobel Foundation, which said last year it was using hedge funds to help boost capital, is now considering charitable donations after previous strategies failed to bring in enough money.

The Stockholm-based institution, which earlier this month rounded off its 2013 awards, cut the prize money by 20 percent last year in an effort to preserve capital. Since then, laureates have had to make do with 8 million kronor ($1.23 million) in each category. Lars Heikensten, executive director of the Nobel Foundation, says he wants to raise the amount again to restore the award’s status.

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