The Children’s Investment Fund Foundation, the £1.7bn charity established by hedge fund manager Chris Hohn and his wife, paid out just 1.58% of its assets to charitable cause last year, according to its most recent financial statements filed with Companies House.

The Foundation's statements show the total amount spent on charitable activities increased from £23.1m in 2009 to £27.9m for the year to August 2010. At the same time the value of its assets at the end of the year had increased from £1.45bn to £1.77bn. As such a result, the payout ratio slipped from 1.60% to 1.58%.