Today’s Editorial, November 20: Teaming up

The Caymanian Compass applauds the introduction of a Cayman Islands chapter of Hedge Funds Care. The US-based fundraising organisation is dedicated to help prevent and treat child abuse and neglect. In just six years, members of the US hedge fund industry have raised more than US$14 million to boost programs in that country. The first fundraising event held by the Cayman Islands chapter raised more than CI$250,000 this month. All of that money will go toward helping our children.

The Cayman Islands government has enthusiastically embraced Hedge Funds Care. Clearly Anthony Eden, minister for health, and Deanna Look Loy, director of Children and Family Services, recognise the profound impact a steady flow of funds can have upon our society’s efforts to keep children safe and aid in the healing of those who become victims. All money raised by this new organisation will be used to help fund various programs designed to help Cayman’s children.

Hedge Funds Care’s cash comes with an important stipulation. They use academic consultants to try and ensure that the money is effectively utilised and that the programs targeted are beneficial to children.

The collaboration between Hedge Funds Care and the Cayman Islands government appears destined for success. Our hope is that this will not only deliver significant help for children in need, but also provide a powerful example of teamwork. Meaningful and productive alliances can be forged between government and the private sector. The potential for improving the Cayman Islands is limitless and the challenges before us great. We encourage more professionals in our community to come forward and strike deals with government to improve education, crime prevention, environmental issues, tourism, etc.

The following firms deserve community-wide praise for their commitment to the Cayman Islands chapter of Hedge Funds Care: Deloitte, CITC0, DMS, Ogier, UBS, Fortis, Walkers, E&Y, Rawlinson & Hunter.

Finally, it is worth noting that Cayman’s financial industry is often accused of being excessively mercenary, filled with people who are focused on making as much money as possible while in the Cayman Islands and then moving on without ever giving anything back. An initiative such as Hedge Funds Care certainly goes along way toward countering that charge.