In a celebration of facial hair, fund managers and superannuation fund executives helped raise $160,000 for prostate cancer research during the charity event "MOvember".
"Investment managers regularly combine both long and short investment positions to enhance returns for superannuation fund members. Applying this approach we attracted both long, 'mo growers', and short, 'mo throwers', and thus were able to expand our fund raising universe," said State Street Global Advisors business director Rob Goodlad.
Prostate Cancer Foundation of Australia (PCFA) chief executive officer Andrew Giles was presented with a cheque for $160,000 at end of MOvember efforts in Sydney and Melbourne this week.
"Raising $160,000 significantly exceeded the expectations of the Committee. This proves that long-short strategies apply to fundraising with facial hair as well as superannuation investing and the winner is prostate cancer research," Goodlad said.
Participants in a Sydney "shave-off" included First State Super Scheme chairman Tom Parry and First State Super Scheme chief executive officer Michael Dwyer.
Melbourne growers included Telstra Super fund chief executive officer Terry McCredden and Victorian Funds Management Corporation chief executive officer Syd Bone.
Concord Capital Will Culbert and Lazards Bruce Bickerton were awarded prizes for best moustaches.
