Princess Diana Fund Has $118M
LONDON (AP) _ The Princess Diana memorial fund has built up $118 million in investments and plans to distribute at least $6.6 million a year to causes the princess supported, its chief executive said Saturday.
The fund said it has distributed $26.2 million so far and donations are still coming in. It was set up immediately after Diana’s death in August 1997 in a Paris car accident to receive charity donations made in her memory, and profits from the sale of approved mementos.
Andrew Purkis, chief executive of the Diana, Princess of Wales Memorial Fund, said the investments are to be managed by two London firms, Schroder and Flemings.
``We are confident that these two experienced investment managers will make the money entrusted to them work well for charity for many years to come,″ Purkis said.