Charitable Giving

  • None of the underlying fund managers will receive any net fees from the ORAH Fund, management and performance fees will be donated to charity
  • The charitable contribution does not in any way dilute the investment returns to unitholders i.e. it is not an additional expense to the normal fees that would be associated with managing the fund
  • The contribution is derived solely from the generous support of the underlying fund managers and Pengana Capital who have agreed to donate fees which would otherwise be due to them for services provided
  • All work done on capital raising is 100% volunteer based
  • The auditor of the ORAH Project is Ageis (Stephen Jankelowitz). Ageis provides ongoing auditing and accounting services free of charge
  • The legal advisors of the ORAH Project are Hall & Wilcox (Harry New). Hall & Wilcox prepared the IM and the documentation for the ORAH Project free of charge, and will continue to provide ongoing legal services free of charge

All management and performance fees  charged by ORAH Fund will be donated to selected charities.


The following charities (in alphabetical order) have benefited from these charitable donations:
– Australian Jewish Fertility Network
– Friendship Circle
– Jewish House
– Magen David Adom
– The Joint


To be eligible to receive ORAH allocations, the charity must:

  • Have tax deductible status (DGR1 or DGR2)
  • Predominantly benefit Jewish community related charitable needs

The ORAH Project Board of Trustees will determine yearly allocations to various charities within the following restraints:

  • 50 – 75% to Australian domestic focused charities
  • 25 – 50% to offshore focused charities

ORAH Project will provide full transparency yearly to ORAH Fund investors regarding fees earned and allocations made


ORAH Allocations Board

The Board consists of 7 members. In a tied vote the chairman has casting vote.
The Board of Trustees is only responsible for allocation of donations; no involvement with investment activities of ORAH Fund

Each of the Initial Board members have had many years of strong community involvement:

Russel Pillemer (Chairman): CEO and founder of Pengana Capital

Rhett Kessler: Senior Portfolio Manager and CIO of the Pengana Australian Equities Fund

Allen Linz

Darron Lonstein

Gary Perlstein

– Michelle Fischl

Carole Pillemer: Founder of The ORAH Project



Thanks to our sponsors for their continued support in helping to launch and run The ORAH Project: