The Charity and Philanthropy team at French law firm Fidal has presented its latest study on the evolution of the Foundation model in France, at a symposium entitled "The French Endowment Fund, As Seen By Philanthropists" in October.
The aim of the symposium was to allow those attending better to understand the “French Endowment Fund phenomenon”. Fidal’s study highlights the fact that more than half of French foundations are now endowment funds, and, if the popularity of the French endowment fund continues to grow as it has done since 2009, such funds will make up three quarters of all French foundations in existence in five years’ time.
The study also considers the appeal of this type of foundation to various different founders – such as non-profit organisations, public and local authorities, private individuals and businesses – and how such an enthusiasm for this type of foundation may have come about.
The symposium, held at the Institut Pasteur, was organised jointly by Fidal and Carmignac Asset Managers, and brought together more than three hundred delegates. A summary of the round-table discussions at the symposium will be made available online by Fidal shortly. The Fidal study can be found in full here (English version).
Mills & Reeve LLP and France’s largest legal firm FIDAL work closely together on international matters and signed a memorandum of understanding in 2014