About the Challenge
Historically, Australian trusts and foundations have pursued a dualistic approach to granting and investing, with granting driven by vision, mission and values and investing confined to generating income.
In recent years, trusts and foundations have increasingly begun to deploy their investments in pursuit of their missions.
With Australian grant-makers holding over $50 billion in investable assets, the impact of this burgeoning shift is significant.
To nurture this demand for innovative, mission-driven investment — and inspire collaboration and best practice within the sector — the Reichstein Foundation convened a small group of trusts and foundations in 2024. Together, we agreed to run a joint, open tender competition to identify, challenge and promote investment practitioners most suited and values aligned to the requirements of investing charitable endowments. In March 2025, we announced our winners.
Collectively, the six participating trusts and foundations hold endowments worth more than $170 million, and we have committed to draw on the outcomes of the inaugural Challenge in our selection of investment advisory services.
“The Endowments for Impact Challenge has demonstrated the growing demand for investment strategies that align financial goals with social and environmental impact. We were impressed by the calibre of proposals submitted in this inaugural Australian competition, and we’re excited to see these relationships continue to evolve as we work together to shape the future of impact investing.”
— David Hetherington, CEO, Impact Investing Australia
