Paul Hamlyn Foundation, London, appointed Investec Asset Management to run a £50 million ($100 million) active global equity strategy, confirmed Jonathan Sheldon, the foundations finance director and company secretary. The foundation, a charity organization that awards grants in the arts, education and social justice, has assets of £510 million. Funding for the global strategy came from a terminated £70 million U.K. active equity portfolio, said Mr. Sheldon; he declined to identify the manager. The remainder was invested in five hedge funds, which Mr. Sheldon also declined to name. Cambridge Associates advised.