Returns Invested in Children and Education (RICE), a Hong Kong and Singapore registered charity launched by Asia-based asset managers and their service providers, raised HKD600,000 in donations at the organisation’s first fundraising event in Hong Kong.
The event was attended by around 200 members of Hong Kong’s asset management community. This included fund managers and corporate service providers, such as prime brokers, lawyers, accountants and fund administrators.
Paul Smith (pictured), Head of Fundraising in Asia for RICE, says: “The Hong Kong launch event received tremendous support from individual donors, particularly fund managers and service providers who attended and generously supported through personal donations. The next stage is to secure the regular support of corporations, as their contributions are needed to ensure our projects for children in Asia are adequately funded."
After a strong start to the charity’s fundraising efforts in Hong Kong, RICE will actively work with corporate service provides and fund managers to establish regular contributions in 2012. This will be complemented by individual donations from members of the asset management community.
All donations are passed through to benefitting charities, as RICE’s administration costs are separately funded. Three children’s charities in 2011 have benefitted from RICE donations. These are: Goutte d’Eau – Damnok Toeuk, an organisation in Cambodia working with children living with disabilities; Starchildren / CWS, an organisation in Nepal working with children infected, and affected, by HIV/Aids and Angkor Hospital for Children, a paediatric hospital and education centre for Cambodian health workers.
RICE is currently reviewing a range of additional projects to support in 2012. These are likely to include Masoom in Mumbai India and M’Lop Tapang in Cambodia. Masoom’s mission is to enable night school students to achieve their full potential through educational and policy support. M’Lop Tapang works with more than 3000 children and 900 families at nine specialised centers in the Sihanoukville region of Cambodia. They provide shelter, medical care, sports, arts, education, training, counselling, family support and protection from all types of abuse.