Monday, 7 April 2008

JPMorgan Asset Management charity sailing challenge

JPMorgan Asset Management (JPMAM) has laid down the gauntlet to leading consultants, challenging them to pit their wits against the high seas in a sailing challenge to raise money for charity.

Now in its second year, the challenge involves taking part in the JPMorgan Asset Management Round the Island Race, one of the largest yacht races in the world, and in doing so raise a significant amount of money for four charities supported by the race. By way of an incentive, JPMAM will be offering a £5,000 donation to boost the donations of the winning boat, and £1,000 donation for the top fundraising team.

The eight companies that have signed up to the challenge are: AON, Hewitt, HSBC Actuaries and Consultants Ltd, Hymans Robertson, Lane Clark & Peacock, PSolve, Russell Investments, and Watson Wyatt. In order to assist the teams, JPMAM has enlisted the help of double Olympic Gold Medallist, Shirley Robertson, to offer on-the-water coaching to help sharpen up their race tactics. A key sponsor of Shirley, JPMAM continues to support her wider sailing activities and in the ongoing World Championships. Shirley is also set to skipper the JPMorgan Asset Management Extreme 40 in the forthcoming European series.

The JPMorgan Asset Management Round the Island Race takes place on 28th June 2008. Held annually, it attracts over 1,700 boats to the Solent to compete for the coveted Gold Roman Bowl. First sailed in 1931, the course is 55 nautical miles long and is raced for under a strict handicap system ensuring that Olympic medallists and consultants alike can compete on an even keel.

Peter Ball, Head of JPMorgan Asset Management’s UK Institutional Business, commented: “We’re delighted to be challenging the industry to showcase their sailing skills for a second year. Last year the challenge raised £18,000 with Russell Investments raising the largest individual amount, £4,570. We’re confident that this year, our competitors will be able to improve on last year’s terrific sum which will be split between Breast Cancer Care, MacMillan Cancer Support, Prostate UK and the Ellen MacArthur Trust.”

“Eight companies have this year risen to our challenge and I’m sure that competition will be tough, with Lane Clark & Peacock looking to defend their hard fought title as the first Consultant Challenge yacht to finish the race!”

In addition to being the title sponsor of the Round the Island Race, JPMorgan Asset Management also sponsors Ben Ainslie who has recently qualified to represent Great Britain at the Beijing Olympics, where he will be aiming for an unprecedented third Olympic Gold Medal in August. Ben will be competing alongside the teams in the Round the Island Race.

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