CRIPPSLIFE7Minhaz Manji is a Cripps Harries Hall client andsuccessful business man based in London.Through his company, Monteacute House Ltd,he owns and operates hotels in the UK.Born in Kenya of Indian origin, from early in hislife he was aware of the deprivation that exists indeveloping countries. His parents were quick toremind him that he was privileged. "At the endof the meal, my father would always go roundthe table and ask each person "what did you dofor someone else today?" From a very youngage, we were encouraged to help others." Min'sfather set up an eye hospital in Ahmendabad,which, since its inception, has carried outmore than two million free sightrestorations.In 2003 Min instructed PeterScott, head of charities at Cripps,to set up a charity called theEmbassy of Man with theprincipal aim of helping andsupporting local charitieswithin the communities inwhich his hotels operated."We were particularlyinterested in supportingcharities which did not receivegovernment funding and whichworked with the elderly, the infirmand local children fromunderprivileged backgrounds andsuffering from disabilities" he says.The contributions are received mainly fromguests, corporate clients and other businessassociates. Every penny collected finds its waydirectly to the sharp end as only tangible goodsare purchased benefiting many users.Furthermore all administrative costs associatedwith running the charity are met by themanagement company so that all the moniesdonated can be used to make a positivedifference in as many lives as possible. Thecharity has managed to fund a variety of causesin many different ways since it was establishedand with the help of members of staff andguests, hopes to continue the good work. In 2007, the Embassy of Man went internationalwhen it hosted a charitable ball at TheGrosvenor House Hotel, raising around£100,000 for the PREDA Foundation; aPhilippine human rights and social developmentorganisation which helps the poorest and mostvulnerable people in society to overcomeinjustice and poverty. With the funds they havebuilt a training centre in Olongapo City for boys,called The Embassy of Man Centre, whichhouses around 400 children, aged from 6-13.What's in the future for the Embassy of Man?"Going forward" says Min "I would hope that thecharity is perpetuated in the same way. I wantpeople to see it for what it is. Our objective is tomake a small dent in the deprivation that existsand to alleviate some element of the crueltythat human beings subject each other to."ClientprofileThere is room at the inn"Every pennycollectedfinds its waydirectly tothe sharpend as onlytangiblegoods arepurchasedbenefitingmany users"FIND OUT MOREFor more informationon forming your owncharitablefoundation pleasecontact:Mary-Anne GribbonPartnerT:01892 506 012E:mary-anne.gribbon@crippslaw.comi

Water &Diamonds8CRIPPSLIFEBorn in Kirkcaldy Fife in 1723, Scottish socialphilosopher and pioneer of political economyAdam Smith identified the paradox of waterand diamonds as the corner stone of his freemarket theory:-"According to the diamond water paradox, wateris needed to sustain human life, yet it has novalue compared with diamonds even whendiamonds have no such specific use except tobe used as jewellery or in industrial machinery.The supply of water is in such a large quantitythat its most urgent use, drinking to remainalive, is easily fulfilled. Any additional unit ofwater can be applied to less urgent usesresulting in less worth due to a greater supply.Comparatively, the supply of diamonds is so lowthat the usefulness of one diamond is greaterthan a glass of water and people are willing topay a greater amount for a diamond thanwater."What was true in 1760 remains true today, withdemand for diamonds on the internationalinvestment market continuing to fuel increasingprices. According to the April 2011 sector guideproduced by Investment Managers CharlesStanley, the diamond market has begun 2011with unabated enthusiasm with the roughdiamond market in the first quarter seeing pricerises up to 25%. There is a similar picture in thepolished market with prices being markedlyhigher.Passion investments and the sophisticated investor