RICE digs deep for Children in Need in Asia
13 June 2013
News, Asia, Singapore
By Asia Asset Management
Returns Invested in Children and Education (RICE), a charity funded by the hedge fund industry in Asia, has raised over US$70,000 at a charity auction conducted during the annual Eurekahedge Asian Hedge Fund Awards dinner.
“We are honoured that Eurekahedge recognises RICE’s efforts and support our vision to help the children in need in the region. We are very appreciative that they allow us to conduct the auction at their annual event. We were very pleased with the results, which exceeded our expectations. We thank Eurekahedge for their support and the Asian hedge fund community for its generosity. This event has given us significant resources to help us meet our funding goals for 2013,” said Misha Graboi, a director of RICE.
“This auction event provides us access to a large part of the Asian hedge fund community. All of the funds raised will go directly to projects which improve the lives of children in Asia,” he continued. “We have had some great items this year including tickets to the FIFA 2014 World Cup in Brazil, a personalized experience at a world famous distillery, and a tour of a major RICE project in Siem Reap. These special items have helped make our auction a success.”
RICE provides financial support and advice to organizations throughout Asia working with children in the educational and healthcare fields. The aim is to improve the quality of life of children in Asia, to give them access to the fundamentals of life and to improve their chances of taking advantage of the opportunities the region offers. RICE takes a "venture" approach to funding projects in the region. The group also aims to make a difference by maximizing the value of their investments through backing trustworthy, high-impact projects. These projects typically have difficulty securing funding. Once funded, all projects are accountable for effective results.
Since 2006, projects RICE has funded include a children's hospital in Cambodia; a day-care education centre; therapy and parental support for special needs children in Vietnam; a servicing centre for children with HIV/AIDS in Nepal; and a shelter for children with disabilities in Phnom Penh.
Donors who participated in the fund-raising auction include Play for Change, Ironmonger Events, The Singapore Turf Club, the Bagge Family, the Shinta Mani Hotel and Aha Restaurant, the Osvaldo Group of restaurants and Irish Distillers Pernod-Ricard.
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