After the success of its Reliant Robin challenge, which raised £165,000 for Cancer Research UK in 2017, BMO Global Asset Management is to return with the Around the World challenge to raise money for Great Ormond Street Hospital as part of the CASCAID charity initiative.
For this year's challenge, between Friday 28 and Sunday 30 June the firm's ten-strong multi-manager team will attempt to travel around the "world" by car in just three days.
A number of towns and villages across the UK share a name with other locations around the world, such as Moscow, New York and Sydney. While these cities are on different continents, their UK counterparts are near Glasgow, Newcastle and Crewe respectively.
The team will set off in three cars, bought for no more than £750 each and drive a total of around 2,000 miles.
This comes after the team's Rob Burdett and Gary Potter raised £165,000 for CASCAID in 2017 from its Reliant Robin challenge, which saw the duo drive around the UK's coastline.
CASCAID's chosen charity this year is Great Ormond Street Hospital (GOSH), which is dedicated to children's healthcare and finding new and better ways to treat childhood illnesses. The BMO team are specifically looking to contribute to the new cardiac catheter theatre for GOSH.
Rob Burdett, co-head of multi-manager solutions at BMO, said: "If you go on a tour of GOSH, and I would encourage you to do so, you will be inspired and amazed - over half the patients come from outside London to receive their world class care.
"My son underwent a week of tests there last year, which thankfully concluded well, but seeing the care first hand was amazing (even caring for me when I nearly fainted)."
The team has also opened up the challenge to anyone else who may be interested in buying their own "old banger" and taking part. So far, Investec, BNY Mellon and Aberdeen Standard Investments have entered teams to take part.
Anthony Willis, investment manager, added: "Our idea has inspired others in the industry to not just sponsor us, but join the challenge too. There will be a spike in demand at the lower end of the used car market in the coming weeks.
"CASCAID has brought the asset management industry together in a way we have not seen before to raise money for good causes, whilst maybe having a little fun at the same time.
"The campaign for Cancer Research UK raised over £2m, and the latest campaign for GOSH is closing in on the £1m target."
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