Prudent Group Donates $15K To Reading Clinic

November 13, 2017

The Reading Clinic has received a donation of $15,000 from The Prudent Group, an international investment manager based in Luxembourg and São Paulo, Brazil.

Jon Malmsäter and Dennis Klemming, of The Prudent Group, presented the cheque to Dr. Glenn Faries, Executive Director of The Reading Clinic, during a recent visit to Bermuda and said they plan to make an annual donation to the organisation.

Jon Malmsäter of the Prudent Group presents a cheque for $15,000 to Dr. Glenn Faries, Exeuctive Director of The Reading Clinic. Also pictured, left to right, are: Rick Krupp [Trustee, The Reading Clinic Foundation], Dennis Klemming [The Prudent Group] and Foundation trustees are Jim Brock, Kirk Kitson and Miles Outerbridge

TRC Prudent presentation Bermuda Nov 2017

The Reading Clinic receives a portion of its annual funding from The Reading Clinic Foundation, a Bermuda trust established in 2013 with a gift of $1 million dollars by Clinic founder Elizabeth Kitson and managed by the Trustees.

This Trust provides regular income to The Reading Clinic, based on earnings from its investments.

Mr. Malmsäter said: “Dennis Klemming and I owe our successes in the financial markets to our solid academic backgrounds.

“Therefore, when we learned from our dear friends in the Kitson family about the excellent efforts made by the Reading Clinic to alleviate the problems and unfairness caused by dyslexia among children, we decided to start making an annual donation to support the Clinic.”

The Prudent Group, which is incorporated in Luxembourg and operates exclusively in Brazil, provides secured, short term working capital loans to small and mid-size companies.

Dr. Faries said: “We are extremely grateful to the Prudent Group for their generosity and interest in the valuable work of The Reading Clinic.

“The importance for every student to have fundamental literacy and numeracy skills is a per-requisite to be competitive and succeed throughout their careers. Addressing the needs of children who learn differently cannot be underestimated.”

The Reading Clinic services the needs of approximately 300 children every year.

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