By launching a «foundations mandate» Credit Suisse is expanding its involvement in the charitable sector.
With some 14,000 charitable foundations in Switzerland, the country has one of the highest concentrations of tax-exempt institutions in the world, and Credit Suisse is offering new products to further tap into that market, the bank said in a statement Tuesday.
Credit Suisse is seeking to help foundations manage their assets professionally, taking into account risk tolerance and expected returns. The bank said that such institutions have generally taken a more hands-off approach to manage their assets.
Through this initiative, Credit Suisse is building on offerings already available in Switzerland and seeks to help institutions not only meet sustainability goals but help achieve market-oriented returns for charitable enterprises.
«For a long time, many charitable foundations tended to take a fairly passive approach to asset management. It is only due to challenging circumstances that awareness of a more active, progressive approach to financial matters has developed», says Isabelle von Jeinsen, head of the Competence Center Charitable Foundations at Credit Suisse.
