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March 12, 2015

Portfolios with Purpose Host 3rd Annual Awards Night

By Zahra Al-Kateb

On March 2nd, 2015 Portfolios with Purpose hosted their 3rd Annual Awards Night celebrating the winners of the 2014 annual stock-picking competition for charity. The event was held at the iconic Museum of the City of New York, overlooking Central Park.

The night began with a cocktail hour and silent auction in the lobby of the museum. Gumuchain donated a signature diamond and gold ring which was competitively bid on and raised $925 for the charity. Later, guests were escorted up the spiral marble staircase to the mezzanine level where nine winning players presented their favorite charities with checks totaling $275,000. Following the awards, Scott Wapner of CNBC moderated a fireside chat about the markets with master class players Jamie Dinan (CEO of York Capital Management), Kyle Bass (CEO of Haymen Capital) and Rick Rieder (CIO of fixed income at BlackRock). The night finished with extended cocktails and private viewings of the exhibits.

The 2014 Master Class winners were Jamie Dinan, with a portfolio return of 18.35 percent to benefit the Museum of the City of New York with $88,896; Kyle Bass (15.78 percent to benefit the Troops First Foundation with $44,493); and Oscar Schafer (14.66 percent to benefit the New York Common Pantry with $14,831).

The group has raised about $800,000 for charity through and annual contest where investors steer money pooled from entrance fees to their favorite charities. The nonprofit founded by former hedge fund marketer Stacey Asher in 2011. For more information about the charity, visit www.PortfoliosWithPurpose.org.

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