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Invest & Give
The UK's fund management industry has partnered with a charity to create a new way to give to charity without the donor feeling like they have made a financial sacrifice.
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The first of its kind, Invest & Give is a partnership between twelve of the UK's leading fund management companies and The Prince's Trust, a leading British youth charity, to create the opportunity for people to both Invest (for themselves) & Give (to others) without feeling like they are sacrificing any of their investment returns.
Martin Currie is proud to be one of the twelve Fund Management Groups supporting Invest & Give.
More information is available on the Invest & Give website or you can call 0844 931 1000.
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So how does it work? The Invest & Give Fund offers the potential to grow your savings by investing in a range of investment funds. The annual cost of investment in the fund is 2.25% (this is in line with the average annual TER for this type of investment fund*), and 0.6% of this annual cost is the donation to The Prince's Trust charity. This is unlike any present philanthropic investment scheme.
What makes Invest & Give unique is that donations through investments made by UK tax payers will, for the first time, have the added benefit of Gift Aid**. This equates to an additional 28p for every £1 that The Prince's Trust receives from investors in the fund*** So, using simple mathematics, if the fund is £100m in size, the percentage of the cost of investment for that year that is donated to The Prince's Trust is 0.6% which equates to £600,000. With Gift Aid this would increase to £768,000.
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The Prince's Trust is a leading UK youth charity, giving 600,000 young people the skills and qualifications to find a job since its launch in 1976.
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Martina Milburn, chief executive of The Prince's Trust, said;
"In times of economic crisis, young people from the most disadvantaged backgrounds are hit first, are hit the hardest and will continue to struggle long after the green shoots of recovery are well established. It is therefore not only very timely, but hugely inspiring that the fund management industry has united in such a positive way to change young lives."
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*Source: Fitzrovia, independent monitors of annual and other fund charges, known as the total expense ratio (TER). The TER (total expense ratio) is the true annual cost of a fund because it includes both the annual management fee and any other charges levied to a fund.
**Gift Aid is an elective facility, therefore investors could opt not to utilise the Gift Aid element of this Investment.
***To be eligible to make Gift Aid donations an individual must be UK resident and pay an amount of UK income tax and/or capital gains tax in any tax year equal to or greater than the amount of basic rate tax that the charity will reclaim on the individual's donations in that tax year. An individual must make a Gift Aid declaration requesting that donations to the charity be treated as Gift Aid donations to enable the Charity to reclaim tax on the amounts donated.
Non-UK taxpayers and UK taxpayers who pay insufficient income tax and/or capital gains tax are not eligible to make Gift Aid donations. Non-resident UK taxpayers may be eligible to make Gift Aid donations and should seek professional advice before completing a Gift Aid declaration.
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