NEW YORK (HedgeWorld.com)–CIBC World Markets is including hedge fund managers on its annual Miracle Day for children’s charities. On that day, Dec. 4, the firm donates all fees and commissions earned in its trading operations to support children in need.
Two of the charities nominated to receive Miracle Day donations are asking hedge fund managers to make sure they participate and direct donations to their causes–the Robin Hood Foundation and the March of Dimes.
The Robin Hood Foundation announced earlier this week that its founder Paul Tudor Jones and Robin Hood Board Chair Stanley Drunkenmiller are asking the hedge fund industry to pledge its support to help fight poverty in New York City. The group is asking that all fund managers direct all equity trades through CIBC World Markets and designate Robin Hood as the beneficiary.
“On Dec. 4 we need the hedge fund industry’s support to surpass the $12 million record set last year on Miracle Day and help Robin Hood to improve the lives of poor children and families in New York City,” Mr. Druckenmiller said in a statement.