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Temasek Trust debuts philanthropy advisory arm
Singapore, with 50% of Southeast Asia’s top family firms, becoming philanthropic hub
The Asset 30 Apr 2024

The philanthropic arm of the Singapore sovereign wealth fund Temasek Holdings, Temasek Trust, has launched TT Foundation Advisors (TTFA), a one-stop independent provider of philanthropy advisory and management services to philanthropic foundations, family offices, business corporations, philanthropists and charities across Asia.

Asia’s philanthropic landscape is fast evolving and growing in significance. More than a third of global wealth is projected to be in the hands of Asian millennials by 2030. Three in five family offices surveyed in the region, according to DBS’ The Asian FO: Driving Impact and Innovation (2023) report, regard philanthropy as a higher priority for their principals now vis-à-vis just a few years ago.

Three in five also, the report notes, state that younger family members expect more extensive support from their family offices than the senior generation – for example, in developing creative solutions to address environmental and sustainability challenges, along with wide-ranging support to enable personal goals.

There is a shift, Temasek Trust states, from chequebook to catalytic philanthropy, with a greater emphasis on impact measurement and management, and more outcomes-driven, evidence-based giving.

And Singapore is fast becoming a regional philanthropic hub, finds an April 2024 report by Global Business Families-EDB Singapore, with more than 1,400 single family offices (SFOs) and 50% of Southeast Asia’s top family businesses.

The TTFA, led by philanthropy advisory services industry veteran Dickson Lim, has been set up to meet this increased demand, it says, and aims to build regional philanthropy capabilities by improving access to philanthropy advisory and management services.

The provider, it shares, “will harness Temasek Trust’s networks, capabilities and resources, as well as the expertise and evidence-based interventions across the wider philanthropic ecosystem, and partner with clients to deliver strategic and impactful solutions”. 

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