Only 30% of European foundations say investment performance was an important factor when deciding how much money to disburse, according to a new Watson Wyatt survey. About 12% of officials at German and Italian foundations and 6% of those at Swiss and U.K. foundations said investment policy was often discussed at board meetings - compared with 90% that said they frequently discussed operations.
Only 25% of fiduciaries received any formal training, and fewer still were exposed to investment issues. Despite that lack of expertise, 62% of Swiss and 47% of Germans surveyed opposed delegating investment decisions to outside experts. In contrast, two-thirds of British and 54% of Italian fiduciaries said investments should be delegated.
Watson Wyatt surveyed 285 fiduciaries at 250 European foundations.