Few would disagree that a strong regulator is required for a strong superannuation system. But APRA’s myopic focus on cost to members means its $70,000 Christmas party is unlikely to help its reputation.
Good investing requires real sacrifices, according to Oaktree’s Howard Marks, but you can’t expect to be compensated just for making them.
$40k target for CereCare at conference dinner
IO&C is hopeful of raising $US40,000 for the Shanghai-based CereCare charity for disabled children in China with a gala dinner at next April’s conference at the Hyatt on the Bund.
A proportion of the funds will go to the supply of new wheel chairs and the remainder to contribute to the provision of a special school for more than 150 children with cerebral palsy or related disabilities, as well as a sheltered workshop. IO&C organisers and an associated company planning to attend the event, La Trobe Financial, have already committed $10,000 by way of donations.
CereCare’s executive administrator, Windy Fang, says the charity gets by on a budget of about $US170,000 a year, including modest wages for the 47 staff, rent and meals for about 30 children.
Because the founder, Lu Shunling, who is severely affected by cerebral palsy but who has provided a lot of the funding for the charity to date through an inheritance, is 78 years of age, there is a concerted effort to make the organization self-perpetuating.
While they are getting close to this aim, the addition of a new school requires a significant increase in funding.
Administration of the fund-raising is being overseen by the Sydney-based Cerebral Palsy Alliance.
