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Institutional Investors (October 16)

2018/ 10/ 16 by jd in Global News

Increasingly philanthropic foundations are being designed to expire rather than continue in perpetuity. “50 years ago, spend-down strategies accounted for 5 percent of the total assets of America’s 50 largest foundations, compared with 24 percent in 2010. As the number of ultrawealthy people in the world grows, the number of spend-down foundations is expected to rise.” The Bill & Melinda Gates Foundation is one such foundation as it’s designed to “spend out 50 years after the founders die.”