Octopus launches charitable foundation as it raises £350,000 for UK SME charities, including Rays of Sunshine
Octopus donates equivalent of 100% of the first year’s annual management charge from all new applications received yesterday and pledged to Octopus Foundation
Octopus Investments (‘Octopus’), one of the UK’s fast growing fund management companies, has today launched the Octopus Foundation as it pledged to donate £350,000, the equivalent of 100% of the first year’s annual management charge on all new applications received or pledged yesterday, to the Foundation. The launch of the initiative falls in the middle of tax year end – one of the busiest times of the year for Octopus.
The Octopus Foundation will support five small and medium sized charities that are each making a big social impact: CALM; Greatwood; North and South London Cares; Rays of Sunshine Children’s Charity; and, Youth at Risk. Chosen by Octopus employees, the charities will not only benefit from funds raised by Octopus over the next three years but also hands on support from Octopus employees who will be actively involved with the charities during this time. Each Octopus employee will be given a day off to support one of the five charities.
Commenting on the launch, Simon Rogerson, CEO of Octopus, said:
“It’s great to be in a position where we can now start to give a little back. We wanted to support smaller UK charities that are making a massive difference in communities around the country and where our help can go a long way to enabling them to keep doing the work they’re doing.”
100% of Octopus’ first year of annual management charge from all new applications received yesterday, 16 February 2015, will be donated to the Octopus Foundation. Financial advisers and investors also had the option to pledge applications yesterday in support of the initiative.
Simon Rogerson added:
“We wanted to give our customers the chance to play their part and contribute to some great causes. We’ve had tremendous support from the financial advisers we work with and their clients and I’d like to take this opportunity to say a big thank you to everyone who is helping us with this initiative. There are so many charities out there quietly getting on doing fantastic work across the UK and it’s great to be backing some of these through the Foundation.”