The Fidelity Charitable Gift Fund said it has voted to lower the minimum asset requirement for its charitable investment adviser program to $250,000 from $1 million.
The program, which was established in 2006, enables gift fund donors who meet the minimum asset requirements to nominate an independent investment adviser to develop and implement investment strategies for the donors' Giving Account at the Gift Fund.
The gift fund offers advisers access to a variety of investment options, including publicly traded U.S. equity and fixed-income securities, Fidelity and non-Fidelity mutual funds, and exchange-traded funds.
Qualified advisers can participate in the program whether or not they have a relationship with Fidelity.
The Fidelity Charitable Gift Fund was established by Fidelity Investments in 1991.
As of March 31, more than 50,000 donors have recommended grants totaling more than $9 billion to over 131,000 nonprofit organizations nationwide since the gift fund's inception.