Foundation board shoulders responsibility
A non-profit foundation in Switzerland has an endowment of CHF 8 million. These funds are not needed in the short term but they are earmarked to help finance large research projects in the medium term. The foundation board turns to ZWEI Wealth in order to effectively carry out this fiduciary duties.
The foundation appears to already have many of the necessary requirements in place. It has a professionally appointed board and enough cash to support important projects in its area of research. But the situation also reveals the problem of how the board should manage the wealth not currently required until it is needed.
They mandate ZWEI Wealth to solve this problem as an independent consultant. Documenting an investment regulation and forming an investment committee creates the governance needed to meet the high fiduciary standards. Next, a tender process facilitates the selection of banking relationships and a suitable wealth manager. This step also gives special consideration to sustainability and ensures the investments are compatible with the foundation’s mission.
The foundation board is ultimately able to choose from a pool of offers from 34 wealth managers. ZWEI Wealth produces an evaluation of these offers and helps the board reach a decision. Today, the board knows that the wealth management solution meets its high standards.
« We most appreciated ZWEI Wealth’s independence and professional approach. That has helped us to fulfil our duties as foundation board members. »
Facts & Figures
- Assets of CHF 8m
- Created investment rules for the foundation’s board
- Established a professional structure and an investment committee
- Quarterly reviews of results and adjustments to the investment strategy
- Received offers from 34 wealth managers
- Wealth management set up according to sustainability criteria
- Annual management costs are 28% below the market average
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