It’s not often that an opportunity presents itself where you can both make money and contribute to a good cause. A new listed investment company (LIC), Hearts and Minds Investment Limited (Hearts and Minds), of which I am Chairman, is one such opportunity.
Hearts and Minds is seeking to raise up to $500 million and list on the ASX in November (ASX:HM1). There are many LICs on the market, but what makes Hearts and Minds different from most is that it has a charitable goal.
Of course, an objective of Hearts and Minds is to make money for investors, but Hearts and Minds will forego any investment fees and instead make donations to designated medical research charities every six months. Also, the Hearts and Minds Board and Investment Committee members have waived rights to be paid director and committee fees. The lead arranger and brokers for the Offer have waived broker management fees.
Read the full article on Cuffelinks here.