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British wealth manager Quilter has donated £100,000 ($116,000) to the National Emergencies Trust (NET) coronavirus appeal through its charity foundation.

The NET was launched by Prince William in response to the Covid-19 crisis.

With this donation, Quilter seeks to encourage other industry stakeholders to contribute to the fund.

The funding will be distributed by the NET to Community Foundations nationally, through which to local charities. It will be utilised to support the elderly and other vulnerable groups affected by the outbreak.

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Quilter CEO Paul Feeney said: “We must show the best side of humanity at time like this. The virus will impact friends, family, colleagues and communities and so it’s vital that we come together and support the National Emergency Trust to ensure support gets to those people who need it, when they need it.

“With our donation by the Quilter Foundation and support of our colleagues I hope we can quickly support those in need.”

In the UK, more than 5,500 are infected by the disease, while globally the number of confirmed Covid-19 cases surged to 314,000.

As a wealth management business, Quilter oversees £110.4bn in customer investments.

The group’s portfolio of services include financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

Last year, Quilter registered an attributable loss before tax from continuing operations of £53m ($67.5m).