At Foord we’re mindful of the wellbeing of the communities in which we operate. We aim to invest in the leaders of tomorrow by supporting a variety of educational initiatives:
Founded in 2003, LEAP Science and Maths School is the only privately funded maths, science and technology school in South Africa. It aims to transform disadvantaged communities throughout the country via education initiatives focused on mathematics and science.
The LEAP School partners with specific communities to provide their children with the opportunity to gain access to tertiary study opportunities, to be successful in their chosen career path and to develop as socially responsible citizens of South Africa.
LEAP currently relies on private funding and donors. Foord identified the school’s need to establish an endowment fund to provide ongoing, long-term financial support. To this end, Foord contributed seed capital and makes ongoing annual donations to an endowment fund that Foord manages on behalf of LEAP in Foord's flagship multi-asset portfolio, the Foord Flexible Fund. The objective of this initiative is to create an endowment fund of considerable scale, thereby creating a sustainable income source for the LEAP School, reducing its dependence on third party donations.
Since 2007, Foord has sponsored a chair in investments at Rhodes University, a commitment we’ve pledged to until 2016.
The chair aims to promote the study and understanding of investments and investment management. The major objective remains post-graduate study of investments. However, Foord hopes that through the chair, the subject of investments will be included in as many degree courses as possible. This will ensure broad-based understanding of the subject, which we believe to be a crucial skill.
Our sponsorship of an investments chair is a deliberate strategy. Rather than endorse bursaries from which just a handful of students may benefit, we believe that funding one skilled and passionate educator will provide life-skill learning to a far greater number of people.
FINANCIAL SERVICES CONSUMER EDUCATION FOUNDATION
The Financial Services Consumer Education Foundation is a public benefit organisation run on a non-profit basis. Its main objective is to promote the education of potential users of financial products and services provided by financial institutions. Its mandate includes consumer education focused on the investments and savings industry.
The Foundation was formed in terms of a fund settlement by the Financial Services Board. The Financial Services Board funds the staff costs of the 12 full-time employees of the Foundation as well as its other operating costs. All donations received from industry organisations, including Foord Asset Management, are thus used to fund the educational initiatives and none of the running costs of the Foundation.
MITCHELL'S PLAIN CHESS CLUB
The Mitchell's Plain Chess Club was established in 1990. The club aims to promote and foster the game of chess while contributing towards the improvement of social and cultural standards in the community. Over the past 25 years, the club has grown the sport significantly in the community – teaching, mentoring and supporting children, teenagers and adults alike.
South Africa's first chess Grandmaster, Kenny Solomon, is a product of the Mitchell's Plain Chess Club and an inspiration to the members of the club, the community and Foord.
For over 10 years, Foord has been a proud and committed sponsor of this community initiative.
INTERNATIONAL MATHS OLYMPIAD (IMO)
Cape Town is host to the 55th International Maths Olympiad (IMO) from 3 to 13 July 2014. Foord is proudly associated as a key sponsor of this prestigious event.
The IMO is a problem-solving contest for high school students, held in a different country in July every year. The first IMO was held in Romania in 1959, with seven countries taking part. Today, more than 100 countries take part, representing over 90% of the world's population. The IMO is the oldest, biggest and most prestigious of all the international science Olympiads.
The 2014 IMO is presented by the South African Mathematics Foundation and takes place at the University of Cape Town. The event is endorsed by the Department of Basic Education and the Department of Science and Technology of the Republic of South Africa.
In addition to the IMO, Foord has sponsored a South African child’s participation at the Bulgarian and Hong Kong Olympiads.
As long-term stewards of our clients’ wealth, we understand the power of compounding. Education, especially in mathematics and investments, is a critical element in ensuring that people retire with sufficient capital to meet their financial obligations in their later years. Through our sponsorship of the IMO, we aim to raise the profile of the importance of maths education in South Africa.
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