News
Man Group plc pledges £1 million support to Every Child a Reader
7 July 2006: Man Group plc, the leading global provider of alternative investment products and solutions, and one of the world’s largest futures brokers, has today pledged a donation of £1 million to Every Child a Reader, an initiative funding Reading Recovery programmes within inner-city schools.
Every Child a Reader is a £10 million programme working to boost literacy among disadvantaged primary children. It is being supported and delivered through an innovative partnership between the DfES, the Institute of Education, the KPMG Foundation and other charitable organisations.
Jean Gross, Director of Every Child a Reader, said: “I am delighted that Man Group plc has endorsed its belief in this project with a donation of one million pounds. This funding will mean more children get help with their special educational needs"
Man Group plc, who sponsor several literary awards including the Man Booker Prize, the Man Booker International Prize and the Man Asian Prize, have pledged the sum over the next three years.
Harvey McGrath, Chairman of Man Group plc said: “Reading Recovery’s early intervention model is increasingly recognised as an effective way to help address literacy difficulties, and the focus of this three year initiative on inner city schools is one that we are very pleased to support.”
Mike Rake, chairman of the KPMG Foundation and KPMG International said: “It is great news that Man Group plc have joined the Every Child a Reader Partnership.
“I believe that the business community has a responsibility to work with government to ensure that young people have the necessary skills for the modern workplace. Helping children to read from an early age is one of the best investments business and the government can make."
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For further information please contact:
Georgi Simpkin
Corporate Communications, KPMG LLP (UK)
Tel: 0207 694 2681
georgina.simpkin@kpmg.co.uk
KPMG’s U.K. Firm Press Office: 0207 694 8773
Notes to editors
About Every Child A Reader
Every Child A Reader is a unique collaboration between the DfES, KPMG Foundation, The Esmée Fairbairn Foundation, The Shine Trust, The Indigo Trust, JJ Charitable Trust, The Mercers’ Company and Man Group plc. It aims to show that, with the right resources, it is possible to overcome the literacy difficulties that blight so many children's lives.
The initiative is funding highly-skilled Reading Recovery teachers in inner-city schools, to provide intensive help to children most in need. It forms part of the government's London Challenge, a partnership between all who seek more for London's young people. It also operates in most major cities outside London.
The immediate aim is to reach 5,000 children, particularly those living in areas of high social deprivation. Longer term, the initiative aims to secure sustainable investment in early literacy intervention, and to explore how intensive support in reading can be provided most cost effectively in a national context.
About Man Group plc
Man Group plc is a leading global provider of alternative investment products and solutions as well as one of the world’s largest futures brokers. Man Group employs over 4,000 people in 16 countries, with key centres in Pfaeffikon (Switzerland), Chicago and New York. Man Group plc is listed on the London Stock Exchange (EMG.L) and is a constituent of the FTSE 100 Index.
Man Investments, the Asset Management division, is a global leader in the fast growing alternative investments industry. It provides access for private and institutional investors worldwide to hedge fund and other alternative investment strategies through a range of products and solutions designed to deliver absolute returns with a low correlation to equity and bond market benchmarks. Man Investments has a twenty year track record in this field, supported by strong product development and structuring skills, and an extensive investor service and global distribution network.
Man Financial, the Brokerage division, is one of the world’s leading providers of brokerage services. It acts as a broker of futures, options and other equity derivatives for both institutional and private clients and as an intermediary in the world’s metals, energy and foreign exchange markets with offices in key financial centres. Man has consistently achieved a leading position on the world’s largest futures and options exchanges, with particular strengths in interest rate products, metals and the energy markets.
About KPMG:
KPMG is the global network of professional services firms who provide audit, tax and advisory services. KPMG LLP operates from 22 offices across the UK with over 9,000 partners and staff. KPMG recorded a UK turnover of £1.28 billion in the year ended September 2005. KPMG LLP, a UK limited liability partnership, is the UK member firm of KPMG International, a Swiss cooperative.
