Giving to charity is something that we can all do, writes Suzie Bliss. But sometimes it isn’t convenient to stop on a busy street, get out your wallet and make a considered donation to a volunteer shaking a bucket.
Now, TAM Asset Management, which has been running funds of funds for 10 years in the City, recently launched a charitable giving initiative that aims to make the process of donating to charity simple, easier and more effective.
Fellow On the Road team member Libby Ashby and I met up with James Penny, investment manager at the firm, to find out more.
‘TAM has a pioneering initiative called You Give We Give, which we started last year,’ said Penny.
‘It sees TAM partnering with both local and international charities, and through their clients TAM donates an agreed percentage of the client’s annual performance to a partner charity. TAM also matches the client donation with the same percentage of their annual management charge (AMC),’ he added.
Penny and the team at TAM are feeling positive about the support from the industry.
‘With all of the controversy surrounding charges and fees in the discretionary fund management industry, it’s encouraging to see this sector, as well as fund houses, donating part of an AMC to making a difference,’ he said.
Taking off his cufflinks, he handed one to me. It sported the logo for the scheme (pictured) and is a way in which Penny shows his and TAM’s commitment to the cause.
So what does the future holds for the scheme?
‘We have plans to do more work on the ground with these charities in 2015 and 2016 in whatever way we can,’ he said.
‘In May we are going to be donning our lycra and cycling from London to Paris for our You Give, We Give initiative, trying to raise as much as possible for the associated charities.’
As well as its commitment to charitable giving, the firm has a strong interest in ethical and socially responsible funds.
‘Ethical investing can have a stigma associated with it that gives investors the impression that returns come second to ethical criteria. TAM is seeking to change that perception through investments geared to be socially responsible or ethical while keeping performance at the forefront.’
TAM actively screens investments for their ethical credentials and it has put together a suite of risk profile portfolios comprising only ethical and socially responsible investments.
‘Given the government’s auto enrolment initiative nearing its deadline, we believe that with the decision of how to invest for their employees, companies will choose a responsible, ethical suite of investments over a less environmentally conscious portfolio,’ Penny said. ‘So we expect this area of asset management to keep gathering speed.’
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