Ford Foundation invests in social impact with new director


Nintendo


Sixth-generation Japanese game maker Nintendo


reported its most profitable quarter in almost a decade, driven by global demand for its year-old Switch console. Profits for the three months ending in December soared 260%, to just over $1 billion.


GOOD QUARTER


S


ocial impact investing is being prioritised by the family-created Ford Foundation with the appointment of Roy Swan as director of its $1 billion “mission investments”.


Former Morgan Stanley executive Swan started in January to lead a team managing mission- related investments and one of the largest portfolios of programme-related investments in the US. The foundation pledged in April, 2017 to invest $1 billion of its endowment over the next 10 years to money managers who invest in affordable housing and financial services for people in developing countries. Swan said his team’s aim will be to “generate positive community impact”. His philanthropic background was in regenerating low-income inner city neighbourhoods. The Ford Foundation was established in 1936 by the late Edsel Ford, son of Henry, the founder


NUMBERS CRUNCHED


was the age Ikea founder Ingvar Kamprad died at home in Sweden after a short illness.


ISSUE 72 | 2018


of global people surveyed think the next generation will mismanage a fi rm, says the 2017 Trust Barometer—Special Report: Family Business.


of all Indian businesses are owned and controlled by families, says Indian School of Business research.


was pledged for disaster relief in Florida and Caribbean by the seventh-generation Bacardi family.


or 10%, of their wealth was donated by India’s Bharti family to their charitable foundation.


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of the $152 billion Ford Motor Company. The foundation described impact investing as “a strategy that seeks to achieve both environmental and social good alongside financial gains”. The non-profit Global Impact Investing Network said the impact investing market was worth $114 billion in its Annual Impact Investor Survey 2017. Most respondents thought the entry of large-scale financial firms into impact investing “will professionalise the market and bring in much-needed capital, but most also believe there is a risk of mission drift or impact dilution associated with this trend”.


QUARTER BAD


Maersk


The Danish shipping giant, controlled by the fourth generation Møller family, posted poor fourth-quarter earnings of $837 million. Revenue grew 13% in 2017 to $30.9 billion, but the company suffered a net loss of its continuing operations of $194 million, compared to 2016’s $469 million loss.


91 63%


93%


$3 m


$108 m


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