The Gift of the Givers and Old Mutual Wealth partner for sustainable disaster relief funding

A dynamic partnership between Old Mutual Wealth and the Gift of the Givers Foundation has ushered in an innovative era of impact investing with the introduction of the Old Mutual Gift of the Givers Life Fund.

The fund is designed to advance real change and meaningful impact in South Africa whilst adhering to ethical investing principles. This initiative aligns seamlessly with the government's vision of enhancing disaster response capacity, as proclaimed recently by Finance Minister Enoch Godongwana in his Budget Speech.

“As Gift of the Givers Foundation, we pride ourselves on the speed and effectiveness of our disaster interventions. The generosity and spirit of Ubuntu from South Africans has always been amazing,” says Dr Imtiaz Sooliman, founder of Gift of the Givers Foundation.

"However, we need to be better prepared for disasters. We must address the crises within the educations and healthcare sectors, as well as address the on-going problems of hunger, water, and sanitation. We have been doing much of this already, but the need is huge and growing. This is why this partnership with Old Mutual Wealth is so exciting and for us” Sooliman adds.

This fund transcends traditional investment by channelling dividends into life-changing initiatives supporting disaster relief, water provision, hunger alleviation and community development. Through this novel approach investors’ purpose to leave a legacy beyond wealth accumulation can be achieved.

“At Old Mutual Wealth, we are driven by a deep-seated ambition to help our clients achieve their wealth creation goals, all while acknowledging the integral connection between business success and the well-being of our communities,” says Farhad Sader, Managing Director of Old Mutual Wealth.

The Old Mutual Gift of the Givers Life Fund is structured as an endowment portfolio, fully invested in the Old Mutual Albaraka Income Fund.

The Old Mutual Albaraka Income Fund adheres to Shari’ah laws and does not invest in companies involved in alcohol, gambling, nonhalal foodstuffs or interest-bearing instruments. Old Mutual ensures compliance across its Shari’ah range through a Shari’ah Supervisory Board, responsible for ensuring that the funds adhere to the standards of the Accounting and Auditing Organisation for Islamic Financial Institutions

All income from the Old Mutual Gift of the Givers Fund is directed specifically to the Gift of the Givers Foundation. These funds will be dedicated to supporting disaster relief and humanitarian efforts in South Africa. Investors can, therefore, take pride in knowing that their investments support the Gift of the Givers' life-changing efforts across the country. Additionally, since the income of the endowment fund is donated, a tax advantage accrues to the fund. Old Mutual, on behalf of investors, claims this tax benefit and reinvests it into the fund to ensure capital appreciation.

“This fund creates a platform on which we can scale a humanitarian response. The opportunity for investors to save toward their future while contributing to the welfare of others,” says Sooliman.

Available to both retail and institutional investors, the Old Mutual Gift of the Givers Life Fund provides an opportunity for individuals and companies to invest with purpose and create real change in their communities.

“It is important for us to find innovative ways where we, and our clients, can contribute towards restoring dignity and empowering communities to rebuild their lives after being confronted with a disaster,” Sader concludes.