Fund managers unite to raise £1m for Cancer Research

There are not many people in the City who drive a Robin Reliant. But a three-wheeled odyssey beckons for fund managers Gary Potter and Rob Burdett of BMO Global Asset Management, who have pledged to spend 18 days on a 3,500-mile drive around Britain as part of an industry-wide quest to raise over £1m next year for Cancer Research.

“Fear not, we won’t be peddling cheap products out the back of the van in every market town, but the aim will be to stop off at various way points where we will aim to meet with IFA businesses and try and get many of them involved as well, helping us to raise as much as possible,” they said.

More than 100 money managers have pledged to complete sponsored challenges for Cascaid, an industry charity that was officially launched this week.

Some are very daring indeed — Jupiter’s Edward Bonham Carter is doing a skydive, and Andrew Formica of Henderson is leading a group of fund managers who will abseil down the City’s Broadgate Tower. Simon Brazier of Investec is climbing six mountains — three in the UK and three in South Africa.

Old Mutual chief executive Richard Buxton initially thought he’d give aeroplane wing walking a try, but following a conversation with Mrs Buxton, he said he had opted to take part in Cascaid’s London night marathon walk in June instead. Anyone can enter — retail investors and fund managers alike — so long as a minimum of £100 is raised.

However, not everyone is being quite so energetic. Darius McDermott of Chelsea Financial Services has opted for a sponsored darts challenge, and Richard Philbin of Harwood Capital is organising a Great British Bake Off event.

Additionally, fund managers have started crowdfunding campaigns for a range of “silly challenges” that their peers must undertake if targets are hit.

Jasper Berens of JPMorgan — a man apparently famous for being late for every meeting he attends — is being challenged to arrive early for every meeting in the first quarter of 2017, or pay a £5 penalty per meeting.

And Henderson’s Phil Wagstaff has been challenged to dress as Elvis for a whole day, including during his commute, lunch break and client meetings, if £500 is pledged. A huge fan of The King, Mr Wagstaff said: “I’d happily pay the £500 myself, I’d love to do it.”

For more details, go to cascaidcharity.com.