Foundation North’s ability to grant is underpinned by the performance of its investment portfolio.
Foundation North is a long-term investor; as such, it has a well-diversified portfolio which is designed to navigate difficult environments and unexpected market conditions through time. While market declines are inevitable in the current environment, the Foundation’s portfolio has “defensive” characteristics which are intended to dampen portfolio declines and to allow for continued spending. The grants budget for each of the past three financial years has varied between $43 and $45.5m – this therefore provides a level of confidence that we have a consistent ability to grant at current budget levels for at least the next two years.
Peter Tynan, Chief Executive (19 March 2020)