Elliot Dolan-Evans (elliot@surgia.org)
(Year 3 MBBS; Past President of the Surgical Interest Association; CEO Investing for Charity Health)
As a medical
student, I don’t often write blogs in economics pages – but I have been a
long-term admirer of the opportunities, power, resources and capabilities that the
finance and economics sectors hold. I entered medicine with the common idealism
that many do; to help those less fortunate than I. However, more and more as I
move through medicine, I have come to the realisation that to enact significant
and sustainable change for those who suffer with curable disease or are
affected by widespread transmittable pathogens, the medical field must look for
help. Medical teams and health organisations simply do not have the resources
or even the expertise to effectively address wide-spread social issues. Experts
in business, the wealthy organisations that shape the economy, and the leaders
in the finance sector are the ones who possess what well-meaning charities and
medical practitioners do not – expertise, professionalism and resources. It is
imperative that the health and medical field partner with business, and utilise
each other’s areas of expertise to address the avoidable and fixable health
inequalities that are engulfing people around the world.
Leaders in
the business field have already realised this fact; Gates, Buffet and others
are leading the revolution – but the effort needs to be wider, and involve the
whole community. Indeed, a culture change may be what is required in the
financial world, to involve and empower everyone in combating these pertinent
social issues. And to do this, cultural reformation must occur at the
grassroots level – with ambitious young people and enthusiastic students. These
individuals are the future of the world’s wealth, and to develop a
philanthropic and socially conscious attitude in them would change the face of
this world for the best. Students need to feel empowered to address wider
social problems and inequalities. Young people with an interest in finance and
investing often do not have the opportunity to learn about sound, responsible
and socially conscious investment principles; and how their decisions and
actions can potentially influence the lives of millions.
I, along
with others around the world, are creating an outlet for philanthropic students
and young people in the finance and business world, a charity that utilises
sound financial and investing principles to raise money and combat health
inequality. Investing for Charity Health (I4C Health) has been established to
draw attention to global problems, and empower students and young professionals
with a means to really make a difference in terms of worldwide health
inequalities. I4C Health is starting on the Gold Coast in 2014, and will
provide an opportunity for ambitious, young leaders in the business and finance
worlds to enact meaningful change. The organisation will teach students principles
of practical investing on the share market, and then those so trained will
invest money for the charity, with the eventual profits passed on to where it
is needed most.
I4C Health
will invest in students and young professionals, providing them with
opportunities to enhance their personal brand, leadership and professional
skills through practical investment experience, networking with the
professionals on the Board and mentors in I4C Health and through becoming a
leader in the organisation. By investing into young people and creating a
culture of selflessness and giving I4C will promote inter-professional
collaboration with the goal of directly addressing global societal problems.
I am looking
for others to share in my vision for a healthier future, and the I4C Health
fund will be the key component of this vision. To leave you all with the
mission of the charity:
Investing
for Charity Health will provide education in responsible investing and create a
culture of philanthropy and integrity in young Australians, with the ultimate
aim of sustainably and significantly supporting health-related charities.
I am a bit confused about what social problems/issues you refer to? This sounds similar to something that Buffett has started in the way of Learning by Giving (http://www.learningbygivingfoundation.org/). Not only is there benefits from learnings how to be an investor to enable you to be a philanthropist, but also there is economical benefits to giving to non-profits along with ensuring the right organisations are chosen to increase the overall impact of every dollar. Is this the same organisation you speak of or is this a similar venture?
ReplyDeleteBuffet has done a wonderful job with Learning by Giving, and that charity certainly has the same principles as Investing for Charity Health (I4C Health) - mainly that of responsible investing, education and cultural change. However, I4C Health operates a fund that receives donations, and a team of young investors (previously trained through a practical investment education program run by I4C Health) conduct equity analysis research to find opportunities to invest into using the fund's money. So these young people will have been educated by the charity (I4C Health) in responsible investing as well as in certain health inequalities that exist and how they can make a difference, and then have the opportunity to actively engage in equity analysis and make investment recommendations.
ReplyDeleteOn the charity front, profits from these investments will be funneled to a specific cause, and this money will have specific aims and objectives based on the cause, and volunteers for I4C Health will also have the opportunity to physically support these causes as well. The idea being that I4C Health addresses a cause with financial and physical support.
I am pioneering the development of I4C Health on the Gold Coast, and there are a number of these funds growing throughout the world. The Gold Coast chapter is moving along quickly, with the launch of the education program to occur in May, 2014! Information on the original charity in Sydney can also be found at http://www.i4c.org.au/, for your info :)
Cheers,
Elliot
What sort of education will be involved and what are the returns you believe you can receive with this training method? Where do these funds originate from? Student donations? It would seem that the chances of outperforming the index over the long term are very slim. For an organisation such as this I don't believe a managed fund approach can outperform a low cost ETF such as VAS. Just my 2c.
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