Winners announced in inaugural $170 million investment advisor Challenge

The Endowments for Impact Challenge has crowned its winners, but the real work is only just beginning to transform how Australian trusts and foundations invest their assets.

“If you receive professional investment advice, if you provide professional investment advice, if you care about the ways in which capital impacts our environment, communities and future, there’s something here for you.”

Reichstein Foundation CEO Rachel Ball’s opening remarks found their intended audience, as a 250-strong crowd gathered to witness Australia’s top investment advisors compete in the Endowments for Impact Challenge Grand Finale, held alongside Sydney’s Impact Investment Summit. The prize — an opportunity to manage a combined investment pool exceeding $170 million.

And the winners are …

Australian Impact Investments and Koda emerged victorious as joint winners with Argus Advisory, Ethinvest, Evans & Partners, and LGT Crestone highly commended for their outstanding proposals. Evans & Partners also received the People’s Choice Award based on votes cast by attendees at the event.

Australian Impact Investments team, joint Winners of the Endowments for Impact Challenge, pictured with Reichstein CEO Rachel Ball (far right)

All finalists demonstrated a deep understanding of what it takes to engage with trusts and foundations, build strong relationships and work with and guide Boards and Investment Committees towards mission-aligned, impactful investments.

They also highlighted methodologies and skills to assess investment impacts, going beyond simply mapping them to the UN’s Sustainable Development Goals.

A win for investment and philanthropy

The Endowments for Impact Challenge is a pivotal initiative for Australia’s philanthropic sector, highlighting the demand for innovative, mission-driven investment options and encouraging collaboration and best practice within the sector.

“Our sector’s intention to align our investments with our missions and values is clear,” says Rachel Ball, “but it’s not always obvious how to go about it and many of us rely on external support from professional advisors. The right advisors will play a critical role in supporting our shift towards responsible investment.

“I want to emphasise this is not about us finding the best advisor and then doing as we’re told. It’s a two-way conversation that has the potential to enhance the impact of both our sectors — investment and philanthropy alike.”

A collaborative initiative

The Challenge would not have been possible without the participation of six trusts and foundations: Besen Family Foundation, Dusseldorp Forum, Inner North Community Foundation, Northern Rivers Community Foundation, Oranges & Sardines Foundation and Reichstein Foundation. Collectively, we hold endowments exceeding $170 million and have committed to draw on the outcomes of the Challenge in our selection of investment advisory services.

We extend our thanks to the Challenge’s expert panel — Abhilash Mudaliar, Craig North and Dame Caroline Mason CBE — and valued supporters: Community Foundations Australia, Paul Ramsay Foundation, Grace and Emilio Foundation, Australian Communities Foundation, Fouress Foundation, Minderoo Foundation and the Department of Foreign Affairs and Trade.

What’s next?

We will soon publish a State of the Sector Report showcasing the most outstanding examples of responsible and mission-aligned investing from the selection process, along with key areas for industry improvement.

“The Challenge has been an incredible opportunity to engage with investment advisors who understand the importance of aligning financial returns with our philanthropic missions,” says Rachel Ball. “This process and its outcomes will serve as a resource for the philanthropic sector as it shifts towards responsible and mission-driven investment.”

Watch the Grand Finale recording!

For those who missed the event, or who would like to see the finalists’ presentations again, a recording of the Grand Finale is now available online. Please share it with your networks!

Stay connected to the Challenge and sign up for updates