The Endowments for Impact Challenge is set to reshape how charitable investments are managed in Australia, creating a pathway for investment advisors to contribute meaningfully to positive social and environmental impact.
The recently launched Challenge was initiated by six of Australia’s leading philanthropic trusts and foundations who are seeking investment advisors to assist in managing a combined investment pool exceeding $170 million.
Advisors invited to showcase innovation
This first-of-its-kind open tender competition in Australia, administered by Impact Investing Australia, invites advisors to showcase innovative strategies that better align charitable endowments with responsible mission-driven investment practices.
This initiative offers the winners and finalists a unique opportunity to demonstrate best practice and help catalyse broader change in how the philanthropic sector invests.
“The Endowments for Impact Challenge represents an exciting opportunity for investment advisors to demonstrate their expertise in responsible mission-driven investing,” said David Hetherington, CEO of Impact Investing Australia.
“We are eager to see how participants will propose innovative strategies that not only meet financial goals but also advance the missions of these philanthropic organisations.”
Managing assets for maximum social and environmental impact
The Challenge encourages advisors to lead the way in transforming how trusts and foundations manage their assets for maximum social and environmental impact with the purpose of:
- showcasing the demand for credible mission-driven investment advice among Australian philanthropic trusts and foundations
- assisting in the engagement and evaluation of financial professionals for effective investment mandates
- inspiring innovative approaches to responsible mission-driven investment practices
- promoting collaboration and transparency within the investment strategies of trusts and foundations
The six participating trusts and foundations are:
- the Besen Family Foundation
- Dusseldorp Forum
- Inner North Community Foundation
- Northern Rivers Community Foundation
- Oranges & Sardines Foundation
- Reichstein Foundation
Also supporting the Challenge are:
- Communities Foundation Australia
- Paul Ramsay Foundation
- Grace and Emilio Foundation
- Australian Communities Foundation
- Fouress Foundation
Reichstein Foundation CEO Rachel Ball said, “This is an important initiative for the philanthropic sector in Australia. We are looking for partners who can support us to truly align our investment strategies with our values and objectives.
“The Challenge aims to spark collaboration and elevate the standard of investment advice in the philanthropic community.”
Key details
Registration:
Investment advisors (who are Australian Financial Services licensees) must register their interest on the Challenge’s website at endowmentsforimpactchallenge.com. Registration is open now.
Details of the Challenge’s request for proposals will be sent to registered investment advisors from 20 November 2024 and proposals must be submitted by 18 December 2024.
Shortlisting:
An independent expert judging panel will shortlist the best proposals received from investment advisors in February 2025.
Town hall event:
Up to six finalists will be invited to present their proposals and take part in a Q&A at a town hall event in Sydney on 27 March 2025.
In attendance will be decision-makers from participating trusts and foundations, other stakeholders in the philanthropic sector, civil society organisations and a broad range of asset holders interested in responsible investment.
Final report:
A report capturing key findings and recommendations will be published in 2025 and shared widely with the philanthropic and financial sectors.
The Challenge draws inspiration from successful models in the UK and Canada. Participating trusts and foundations will use the information drawn from the Australian Challenge and have the discretion to appoint advisors based on their unique needs.
For more information and to register, visit endowmentsforimpactchallenge.com.