Seven years ago, Tam Asset Management set up its charitable initiative, You Give We Give. We caught up with Eric Williamson, investment manager at the firm, to see how the initiative is developing and what the future holds.
You Give We Give (YGWG) allows the Tam Asset Management’s clients to donate up to 20% of their annual portfolio gain to a charity of their choice, with Tam matching the donation with an equal percentage of their annual management fee. This allows general investment account (GIA) and ISA clients to participate whether via their adviser with Tam, or directly via its online investing platform.
How much has been raised so far?
So far, we’ve raised £153,250 for a wide range of charities.
Is the scheme available on all of your model portfolios?
Yes, it is. We initially launched YGWG alongside our ESG portfolios but quickly realised that there was demand from all of our investors, so we opened it up to everybody.
Can IFA clients participate too?
Yes, they can. IFAs can support their client and Tam by choosing to donate an equal percentage from their ongoing adviser fee.
Which charities have benefited so far?
We are delighted to have made donations to a variety of wonderful causes – 28 to date. That’s one of the best parts of the initiative – the client can choose any registered charity they wish. We have donated to smaller charities such as 500 miles, Cairngorm Mountain Rescue and Ferne Animal Sanctuary, and larger charities such as Alzheimer’s Research UK, UNHCR and Yorkshire Air Ambulance.
How has the pandemic affected the scheme?
Despite an incredibly challenging year of immense market volatility, at year end 2020 we made positive returns for our clients’ investment portfolios which meant we were still able to donate to their chosen charities on their behalf. Tam will always donate, regardless of whether our clients have been able to, but it was a real bonus to be able to send donations from them and us. They were extremely well received by the charities who have had, and are still having, a really tough time recovering from the pandemic.
What does the future hold for You Give We Give?
We are seeing a significant shift towards ESG investing and charitable giving, exacerbated by the pandemic and the devastating affect the lockdowns had on charities’ ability to fundraise.
Our main objective for You Give We Give is for it to serve as an innovative alternative to charities’ traditional fundraising methods, and provide them with a long-term sustainable income stream.
We’ve tried to make You Give We Give as accessible as possible by allowing GIA and ISA clients to participate whether via their adviser with Tam, or directly via our online investing platform Greenfinch, and by allowing them to choose their own favourite charity.
Our hope is that an increasing number of charities, small and large, benefit from the initiative, and that it becomes a fundamental part of their fundraising strategies.
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