11
FRIDAY, NOVEMBER 2, 1990
OR MEMBER OF
FUNDS,
AND
"THAT IS WHY I, AS THE TRUSTEE AND THE CHAIRMAN
HAVE THE THE MANAGEMENT COMMITTEES OF THESE CHARITABLE TRUST
THAT
STEADY THEY ACHIEVE RESPONSIBILITY TO ENSURE
CONTINUOUS INVESTMENT PRUDENT GROWTH THROUGH
AND ARE APPROPRIATELY UTILISED NEEDS OF ACCORDING TO THE RESPECTIVE OBJECTIVES OF THE FUNDS AND THE
TRULY BENEFIT FROM THE SOCIETY, SO THAT THE PEOPLE OF HONG KONG MAY THE FUNDS, MR TSAO SAID.
PRESENTLY SET UP THEIR RESPECTIVE GOVERNOR
HE POINTED OUT THAT ALL STATUTORY FUNDS HAD
COMMITTEES THEIR
IN
WITH MANAGEMENT
ACCORDANCE ORDINANCES. MEMBERS OF THE COMMITTEES ARE APPOINTED BY THE TO ADVISE ON MATTERS OF INVESTMENT AND THE AWARD OF GRANTS.
AND THE SIR EDWARD "FOR THE SIR MURRAY MACLEHOSE TRUST FUND
THE HANDS YOUDE MEMORIAL FUND, INVESTMENT MATTERS ARE EVEN PLACED IN
CONSULTANTS CLOSELY MONITORED BY THE OF INDEPENDENT
INVESTMENT
RESPECTIVE MANAGEMENT COMMITTEES OF THE FUNDS."
RISK, EACH EIGHT STATUTORY AND SUPERVISION. ACHIEVE GROWTH
"ALTHOUGH ALL INVESTMENTS ARE SUBJECT TO A CERTAIN AND EVERY FINANCIAL INVESTMENT MADE ON BEHALF OF THE FUNDS ADOPTS SAFE AND SOUND METHODS UNDER THE ADVICE OF THEIR RESPECTIVE MANAGEMENT COMMITTEES IN ORDER TO IN THE ASSET VALUE OF THE FUNDS."
WHENEVER ON THE AWARD OF GRANTS, MR TSAO SAID EFFORT WAS MADE,
RECURRENT REVENUE OF THE CHARITABLE POSSIBLE, TO UTILISE ONLY THE TRUST FUNDS SO AS TO RETAIN THE CAPITAL FOR EARNING PURPOSES.
TRUST FUNDS WERE USED FOR HE STRESSED THAT ALL CHARITABLE HELPING PEOPLE IN NEED ACCORDING TO THE OBJECTIVES OF ESTABLISHMENT.
"IT IS
THAT NOTEWORTHY
EACH
BLACK YEAR THE SIR ROBERT
OF NUMBER
YOUTHS IN HONG KONG то TRUST FUND FINANCES A GOOD
GO OVERSEAS AND TAKE COURSES WHICH ARE IN SHORT SUPPLY LOCALLY,
"UNDOUBTEDLY, THIS IS OF SOME HELP WHERE, THE CURRENT BENEFICIARIES OF THE BRAIN DRAIN IS CONCERNED, SINCE ALL
WORK ON COMPLETION REQUIRED TO RETURN TO STUDIES." HE SAID.
HONG
то KONG
OF
ISSUE OF
FUND ARE
OF THIER
RECENTLY FOR THE HK$100 MILLION WORLD COLLEGE IN SHATIN TO PROVIDE LOCALLY-NEEDED
FURTHERMORE, THE LI PO CHUN CHARITABLE TRUST FUND HAS GIVEN APPROVAL FOR THE ALLOCATION ESTABLISHMENT OF THE LI PO CHUN UNITED PROMOTE CULTURAL EXCHANGE AMONG COUNTRIES AND TRAINING.
MR TSAO BELIEVED THAT SUCH A PROJECT WOULD CERTAINLY STRENGTHEN HONG KONG'S POSITION AS AN INTERNATIONAL CITY.
HE SAID THERE WERE THREE NON-STATUTORY FUNDS, NAMELY
DISPENSARIES
MEMORIAL EX-CHINESE PUBLIC RANGING FROM $0.36 MILLION TO $5 MILLION.
FUND, THE SIR JACK CATER SCHOLARSHIPS
WITH FUND,
THE AND INDIVIDUAL ASSET
TODD
FUND
THE VALUE
/NOTING THAT