Chris Cuffe, the chairman of the $650 million Hearts and Minds Investments, says lifting performance is the best way to lift the share price of the high-profile philanthropic-focused fund after its backers got caught up in the brutal tech rout.
Hearts and Minds Investments, which trades under the ticker HM1, has directed $33.9 million to medical research charities since it listed in 2018. But it’s been a tough 12 months for investors in the listed fund, which has slid 45 per cent, compared to a 5.3 per cent fall in the local market.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
