Would you give your fee to charity?

18 August 2008

1 minute read

Would you forsake your hard-earned management fee and give it away free to a charity?

That's just what's happening at new managed fund Third Link Growth Fund, where almost all of its 1.4% fee will be given to non-profit organisation Social Ventures Australia (SVA).

Third Link's Chris Cuffe, a former financial chief executive turned charity worker for SVA, has also persuaded 17 fund managers, including Perennial Investment Partners, Paradice Investment Management and Colonial First State, to forgo their fees.

Cuffe, who is reported to have earned AU$33m before leaving Challenger Financial Services Group, comments: "There is no evidence to suggest an increase in prosperity leads to an increase in happiness." (The Australian)</a

Is Cuffe right to give away his cash? Will the good PR attract investors? And would you be happy to hand over your fee to a charity? Get generous below.

AUTHOReFinancialCareers Australia

Insider Comment

mi
millionman
22 August 2008
Give me 30 million and I'd be happy to give up my fees. Would also work of charity and work two hour days.
Reply
u2
u2
22 August 2008
This could never be applied across the industry - get real!!
Reply
j
j
20 August 2008
this is a niche example based on personal circumstances - it has little or no application in the real world
Reply
Ha
Happydays
19 August 2008
If you read the Australian article, Mr Cuffee enjoys a great, balanced life - good on him. More people should scale down from the finance world when they hit 40. Why not work for a charity or ditch your fee if it makes you happy??
Reply
Zi
Zinc
19 August 2008
with his kind of money in the bank, I'd give up my fees and get the free PR that comes my way
Reply