The offering comes at a time when Singapore has been promoting its status as a hub for wealth management, family offices, and location for ultra-wealthy families – many of whom are entering the philanthropy sphere.

Temasek Trust, the organisation founded by Singapore’s state investment fund Temasek Holdings, has launched a provider of philanthropy advisor and management services. Called TT Foundation Advisors (TTFA), it will serve philanthropic foundations, family offices, business corporations, philanthropists, and charities across Asia.

Explaining the rationale for TTFT’s launch, Temasek Trust cited figures from DBS in 2023 (The Asian Family Office: Driving Impact and and Innovation), showing that more than a third of global wealth is projected to be in the hands of Asian Millennials by 2030. Some three in five family offices surveyed in the region regard philanthropy as a higher priority for their principals now than just a few years ago.

The offering also taps into Temasek Trust's claim that Singapore is becoming a “regional philanthropic hub” with more than 1,400 single-family offices and half of Southeast Asia’s top family businesses. 

Another channel creating a need for philanthropy advice and management comes from SFOs wanting to qualify for overseas donation tax incentives. They can outsource their required professionals and appoint independent donor advised funds as their qualified local intermediaries. This is allowed under the Monetary Authority of Singapore’s Philanthropy Tax Incentive Scheme.

“These developments have heightened demand for outsourced independent philanthropy advisory services and DAFs to facilitate local and regional giving,” Temasek Trust said.

TTFA is led by philanthropy advisory services industry veteran Dickson Lim. Prior to joining Temasek Trust, Lim was executive director and head of philanthropy and community impact, Singapore, at UBS. Before this, he was the head of individual philanthropy services for Southeast Asia, at BNP Paribas Singapore. Lim has served in various roles across the non-profit sector for 20 years.