Fee-free philanthropic fund raises $475k in first year
But poor market performance and challenging conditions dampen donations.
The Freedom Fund hopes to grow to $3m under management in the next two years.
A fee-free philanthropic fund has nearly raised its $500,000 target in its first year but poor market performance means its subsequent donations have been limited.
Last October, fund manager and KiwiSaver provider Nikko launched a new philanthropic fund, from which it hoped to donate $50,000 a year
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