Fidelity® Charitable Gift Fund Lowers Minimum Asset Requirement for Charitable Investment Advisor Program
Lower Minimum to Help Advisors Integrate Charitable Giving into More Financial Plans
BOSTON, June 22, 2009 — The Fidelity® Charitable Gift Fund ("Gift Fund") today announced today announced that its Board of Trustees had voted to lower the minimum asset requirement for its Charitable Investment Advisor Program to $250,000 from $1 million.
The Charitable Investment Advisor Program (CIAP), established in 2006, enables Gift Fund donors who meet the minimum asset requirements to nominate an independent investment advisor to develop and implement investment strategies for the donors' Giving Account® at the Gift Fund.
"Many of our high-net-worth donors rely on investment advisors for assistance with their financial planning," said Sarah C. Libbey, president of the Fidelity® Charitable Gift Fund. "Charitable giving is a key component of these plans, especially among those looking to establish a family legacy of philanthropy. Lowering the minimum asset requirement will make CIAP more accessible to more donors, and allow advisors the opportunity to provide customized investment management and oversight of their clients' charitable giving portfolios at the Gift Fund."
The Gift Fund has set guidelines for the qualifications of advisors who utilize CIAP and for the investment of funds in the program.
Under CIAP, the Gift Fund offers advisors access to a wide variety of investment options, including publicly traded U.S. equity and fixed-income securities, Fidelity and non-Fidelity mutual funds, and Exchange Traded Funds (ETFs). Qualified advisors can participate in the program whether or not they have an existing relationship with Fidelity.
About Fidelity® Charitable Gift Fund
The Fidelity® Charitable Gift Fund was established by Fidelity Investments® in 1991. The purpose of the Gift Fund is to further the American tradition of philanthropy by providing programs that make charitable giving simple and effective. As of March 31, 2009, more than 50,000 donors have recommended grants totaling more than $9 billion to over 131,000 nonprofit organizations nationwide since the Gift Fund’s inception.
The Fidelity® Charitable Gift Fund ("Gift Fund") is an independent public charity with a donor-advised fund program. Various Fidelity companies provide non-discretionary investment management and administrative services to the Gift Fund. The Charitable Gift Fund logo is a service mark and the Giving Account is a registered service mark of the Trustees of the Fidelity Investments® Charitable Gift Fund. Fidelity and Fidelity Investments are registered service marks of FMR LLC and used by the Gift Fund under license.