RICE Seeks Additional Donation Pledges

May 19, 2011 James Heinsman Hedge Fund News

Returns Invested in Children and Education, or RICE, is a philanthropic organization established by the Asian hedge fund industry in 2006. The charity collects money in support of minors, including children growing up in India’s brothels.

RICE’s chief of fundraising Paul Smith explained that the organization is hoping to lengthen its list of fund sources, as so has registered as an International Charitable Organization in Singapore. Before, the charity raised money privately; its primary sources were a select number of successful individuals.

Tomorrow, according to Smith, RICE hopes to receive new donation pledges at the Asian hedge fund dinner that is organized by Eurekahedge Pte.

Asian hedge funds have been successful lately, having brought in over $3.6 billion during the first quarter. This boosted the industry’s assets to $88 billion.

“It’s a successful industry that generates a lot of cash and a lot of the profitability of the industry comes because it’s here in Asia,” explained RICE director Peter Douglas. “There’s a genuine need to go give back and a means to do so.”

Asian Hedge Funds, Hedge Funds Charity, Paul Smith, Returns Invested in Children and Education, RICE Fund,

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