The South African hedge fund industry rallied in support of the Alternative Investment Management Association South Africa’s (AIMA SA) second annual AIMA Winter Charity Dinner, hosted at Investec in Cape Town, to raise R1 million for nominated charities.
In terms of this year’s “adopt a wish” theme, patrons could sponsor a particular item identified as a need by the charities. Pre-event pledges raised R500000, of which 80% was secured by Peregrine Securities, with an additional R500000 raised on the night through the auction of larger “wishes”, as well as pledges from individuals.
Robert Foster, Chairman of AIMA SA commented: “The generosity of the South African hedge fund industry is especially heartening during these tough economic times when many charities are battling to raise the funds they need to provide critical services to our communities.
“The success of the event is a tribute to valuable partnerships forged by AIMA SA this year. Collaborative efforts between fund managers, service providers, ASISA and the regulator to secure a bright future for the industry extended to this initiative for the benefit of a range of worthy causes.”
Charities that will benefit include Zusakhe, a child focused safe haven and support centre, the Childhood Cancer Foundation SA (Choc), which supports state-run specialised childhood cancer treatment centres throughout the country, Cape Town Child Welfare, Teach South Africa, the Centre for Rehabilitation of Wildlife (Crow), The Carthorse Protection Association, the Papilon Foundation, and Etafeni, which supports HIV positive people, including orphans.
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