Orah fund: Pengana Capital Carole and Russell Pillemer Jewish charity investment fund
It’s the secret eastern suburbs investment fund that’s lining the pockets of all the right people. Find out how you can buy in.
Wentworth Courier
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It’s the fund managed by the biggest names in the eastern suburbs which was only invested in by their inner circle – until now.
Orah Fund was established four years ago by Carole and Russell Pillemer of Pengana Capital, which was co-founded with Malcolm Turnbull.
Now, it is a fund with a difference too – with managers generating charitable donations approaching $1.7 million through their activities.
The Orah Fund is unique because investors do not actually make the donations, nor are investment returns affected by the donations made by the ORAH Fund.
Donations are instead generated by the underlying fund managers who manage the portfolio and essentially donate their fees to the charity pool.
“From funding children from third world countries to get lifesaving surgery, to helping Friendship Circle Bakery become a reality in Sydney, it is clear that with the support of the community, we can make a positive and material change for those in need,” Ms Pillemer said.
Orah is a fund of funds and the managers, who usually compete with one another to secure investors, are among the most sought after in the industry.
Fund managers include Matthew Kidman of Centennial Asset Management Level 18, Mark Arnold of Hyperion Global Growth Companies, Mark Landau of L1 Capital Australian Equities and L1 Capital Long Short.
The list also includes Damien Green of Macquarie Professional Series Global Equity, Rhett Kessler of Pengana Australian Equities, Jon Moog of Pengana Global Small Companies, Peter Baughan of Pengana Harding Loevner International, Gabi Dishi of Pengana Alpha Israel, James Williamson of Wentworth Williamson, and Katie Hudson of Yarra Australian Equities.
As a result, the fund is incredibly diverse and generated a 30 per cent return to investors for the last financial year.
But perhaps the most interesting about Orah is that it has donated more than $1.6 million to Jewish charities including their biggest donation yet of $430,075 for the six months to June 30.
Ms Pillemer said only friends and family had bought into the fund, until recently – and now now they want to open up the opportunity to everyone.
“Look our friends have been amazing investors but let’s go outside the circle now too,” Ms PIllemer said.
“Without taking anything away from investors, basically the fund managers work for free and donate their fees to the charities.
“It was hard in the beginning to say to some very experienced people ‘we want you to work for free’ but people have such integrity and it’s such a great concept.
“Have you heard of the Jewish saying Tikkun Olam? I say it in bed to our kids all the time. We all need to think, how can you leave this world a better place?
Rabbi Mendel Kastel, Chief Executive of Jewish House, said their charity was among 50 to receive a grant from the fund so far.
Jewish House are using their most recent grant to fund JH Kids – a program reaching out to vulnerable local families during the lockdown.
“It’s fantastic. The variety of organisations they’ve been supporting and continue to support has been phenomenal,” Rabbi Kastel said.
“It’s not just a case of ‘here’s a bit of money’, Orah are there with you to make that sure money goes to the best places.”
To find out more visit www.orahfund.com.au
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