Foundation assets fall by over a quarter

Family, independent and public foundations in the US experienced an average 28 per cent decline in asset values last year, according to a survey by the Council on Foundations (COF). According to the survey, the results of which were announced at COF’s recent Family Philanthropy Conference in Indianapolis, this has not so much meant major changes in investment strategies as changes in investment managers. Nearly half of the 127 respondents had already changed managers or were considering making a change – in fact more than half of the larger foundations ($100 million or more in assets) had already made a change. Similarly, a quarter of those using investment consultants had either already changed consultants or were considering a change.