Generous with funds ultimately invested in refuge, perhaps (8)
I believe the answer is:
handsome
'generous' is the definition.
(similar in meaning)
'with funds ultimately invested in refuge perhaps' is the wordplay.
'with' becomes 'and'.
'ultimately' indicates one should take the final letters.
'invested in' is an insertion indicator.
'refuge perhaps' becomes 'home' (refuge is a type of home).
The final letter of 'funds' is 's'.
'and'+'s'='ands'
'ands' put inside 'home' is 'HANDSOME'.
(Other definitions for handsome that I've seen before include "Fine-looking" , "Good-looking, as a male say" , "Attractive in a strong, imposing way" , "Nice-looking" , "'Good-looking, as a man might be (8)'" .)