Robin Hood Asset Management Cooperative (RHC) was founded in 2012. Its homestead is Finland, and it is incorporated as a cooperative according to Finnish and EU legislation. According to its statutes, the members meeting of the coop is omnipotent. Each member has one vote in the meeting. The coop has given its board and managing director the powers to take care of the day-to-day operations of the coop.
What does RHC do?
- Manages the coop assets
- Accepts new members
- Offers new voluntary shares to members
- Invests in commons building projects
- Develops Robin Hood through open offices
- Maintains the coop’s websites and social media accounts
How does it do it?
Compared to the majority of hedge funds, the cost structure of RHC is ridiculous:The managing director, the vice managing director and the members of the board work on a voluntary basis. Some of their costs (such as travel to offices, communication costs, stationery, etc.) is renumerated, but no one gets a salary.The developer and maintainer of the parasite is paid an agreed-upon fee.For various tasks, including website management, organisation of offices, PR and sales, and so on, RHC relies on the temporary contributions of its volunteer members; these tasks are organised primarily via discourse.robinhoodcoop.org; check especially here