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Established last year to raise funds from the proceeds of a charity golf event run in conjunction with the financial markets, the Foundation has made a three year commitment to the project during which time it hopes to distribute nearly two million dollars to selected charities.
The charity golf event, which began in 1987, has developed into the most successful event of its kind in the Asia Pacific region and has raised well over $10 million.
Both ASX and Reuters have been long time supporters of the day and took over the running of it last year after its founders, the AAP Group, decided not to continue with it.
Chairman of the Foundation, the Managing Director of Reuters Australia, Mr David Brocklehurst, said the charity golf day, involving nearly 200 sponsors, was able to make a significant contribution.
Presenting cheques to the Financial Markets Foundation ($160,000), the Garvan Institute ($160,000), Taronga Zoo ($120,000), the Sunnyfield Association ($80,000) The Children's Cancer Institute ($40,000) and The Shepherd Centre ($40,000), Mr Brocklehurst said ten charities had been selected for 2001, when the target would again be $600,000.
"Many of these charities are unable to obtain funding for vital research which would benefit all Australians and the ASX Reuters Charity Foundation can make a significant contribution to this work," he said.
