Feb 02 2019Add to Favorites
Last year at MP Group, were so incredibly proud to announce our $59,267 donation to support the Indian based operations of the Glenn Family Foundation.
The Glenn Family Foundation was founded by philanthropist, businessman, and investor Sir Owen Glenn, and has international operations spanning Australia, Fiji, New Zealand, India, Vietnam, China, the Philippines, Nepal, Myanmar, Sri Lanka, and Bangladesh. Sir Owen has been knighted for his global philanthropic activities and contributions to support communities, and the international sporting arena.
The Indian operations of the Glenn Family Foundation include the ongoing funding of a 90 place orphanage and hostel, located in Kalimpong, at the foot of the Himalayas.
Funded by Sir Owen, the orphanage and hostel are run by Catholic nuns. Children of impoverished families in the local area are sold to local farms, tea houses, and businesses. The children, as young as four years old are then committed to daily labor for that business in exchange for one meal and a place to sleep. The nuns of the orphanage advocate on behalf of the child to transfer the child to the orphanage, where they are provided with daily nourishing meals, schooling, and accommodation until they are 18 years old. At the age of 18 tertiary education is supported and encouraged, with the aim to break the poverty cycle and so that future generations are empowered via education.
MP Group International is in the business of Building Wealth and supporting the community is fundamental to our core values. We are delighted to have the opportunity to support the activities of the Glenn Family Foundation, and as we grow, we are looking forward to doing more in this space.
MP Funds Management has provided investment funding for over $1.1 billion in real estate-based investment deals across 21 transactions and produced an average annual investment return (IRR) of 22%.
We are looking forward to working with you in 2019.
In 2014 we co-invested with former Managing Director and board member Steve Day, in the headstock of real estate investment management business, Propertylink. Investing in and managing major industrial warehouse portfolios, office tower portfolios, and infrastructure projects, other Propertylink co-investors included Goldman Sachs and London’s Duke of Westminster.
In 2016 we provided mezzanine finance for two separate town house developments of c. 24 townhouses each, so around 50 townhouses in total in Brisbane. MP Funds Management came into the deal for a short period of six months. We had the opportunity to buy out a portion of the existing capital providers position at a 19% (investment return (which was compounding monthly).
I am fascinated by the intergenerational transfer of wealth and how the financial and investment sector will evolve as a result. According to a study by Wealth X, over the next decade or so, one of the largest ever intergenerational wealth transfers will take place. Including all individuals with a net worth of $5million or more, its expected $15.4trillion of wealth to be transferred by 2030 globally. This sum is equivalent to the entire Chinese economy or 17 times the market capitalization of Amazon, one of the world’s most valuable companies.
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