Singapore's WMI Launches CHIEF Program for Empowering Asian Changemakers with Philanthropy Skills

News Release: SGD 15 Million Investment to Strengthen Philanthropic Capabilities through the Asia Centre for Changemakers

Singapore, September 16th, 2024 - In response to the growing anticipation of a USD 5.8 trillion wealth transfer across Asia Pacific by 2030, marked as the 'Great Wealth Transfer', The Wealth Management Institute WMI is launching the groundbreaking Changemaker Impact eavour Fellowship program at the Global-Asia Family Office Summit. This pioneering initiative empower philanthropists, social entrepreneurs and nonprofit leaders with advanced skills for effective impact-making.

Context of Rapid Evolution:

With a forecasted USD 5.8 trillion transfer of wealth in Asia Pacific by 2030, driven by 'The Great Wealth Transfer', a new generation of younger and diverse philanthropists emerges, seeking innovative solutions to tackle complex regional and global challenges. This expected surge in strategic philanthropy highlights the need for enhanced skills among funders, social innovators, and philanthropy professionals.

Vision for a Robust Ecosystem:

Aligned with Singapore's ambition to become a leading philanthropy hub, WMI has established the Asia Centre for Changemakers ACC this year. It boasts an SGD 15 million investment from Temasek Trust and Philanthropy Asia Alliance to bolster philanthropic capabilities through this initiative.

Ms. Foo Mee Har, CEO of WMI, underscores this commitment: We envision ACC as a catalyst in redefining philanthropy across the region by empowering leaders with strategic insights and skills needed for impactful change. Our goal is to build an ecosystem comprising changemakers capable of addressing Asia's most pressing challenges.

Core Components of the CHIEF Program:

The seven-month comprehensive program will equip participants with a unique perspective on capital purpose, impact landscapes, project viability and scalability assessments, along with insights on suitable financialfor different contexts.

Global Expertise in Partnership:

In collaboration with London School of Economics' LSE Marshall Institute, which is recognized for its '100x Impact Accelerator' program designed to support innovative social enterprises, WMI will leverage the Marshall Institute's expertise to enrich the CHIEF Program. This collaboration brings together global leadership and innovation in impact-driven initiatives.

Framework and Approach:

• Total Portfolio Management: An advanced framework that optimizes diversified financial returns while maximizing impact potential according to specific investment assets.

• Economics of Mutuality: Demonstrates that investments med at community, people, and environmental sustnability can lead to superior value creation, encompassing both financial performance.

Enhancing Philanthropy's Role:

The CHIEF Program elevate the role of philanthropy in driving sustnable change by equipping participants with a deep understanding of impact-focused strategies. This program underscores WMI's commitment to fostering an ecosystem that nurtures active and informed changemakers across Asia, contributing to positive societal transformations.

For Media Enquiries:

• Rachel Ooi Rongrawee: Senior Assistant Director, The Wealth Management Institute

  • Eml: [email protected]

• Genevieve Ng: Deputy Director, The Wealth Management Institute

  • Eml: [email protected]

Additional information avlable upon request.
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