The philanthropic foundation set up by Chris Hohn, founder of hedge fund firm The Children’s Investment Fund Management (TCI), donated almost $500m to charitable activities last year despite recording an investment loss for the first time in ten years, according to a report by The Times.
The report cites the accounts for The Children’s Investment Fund Foundation as showing it gave $491m to charities in 2022, down from $828m in the previous year, as the organisation recorded an investment loss of $487m due to a what it described as “a challenging economic environment”, it’s first first net loss since 2012.
The foundation, which backs initiatives to tackle climate change, child sexual abuse and malnutrition, as well as widening access to HIV self-testing, recorded a gain of $695m in 2021, and has generated a cumulative investment return of 433 per cent since April 2009.
