UBS Launches Philanthropic Portfolio To Help Alleviate Poverty

Josh O'Neill

18 November 2016

has launched a philanthropic portfolio in a bid to improve healthcare standards throughout the world's most neglected communities.

According to the group, there is currently a fragmented approach to development funding and it is failing.

While billions of dollars are spent annually on aid programmes, it is estimated that an extra $1.4 trillion is needed each year to lift some 700 million out of poverty and neglect by 2030, UBS said in a statement.

Co-funded by the UBS Optimus Foundation, the portfolio, called Going Further: A Philanthropic Health Portfolio, looks to explore new ways of financing and deliver lasting change, the Basel-headquartered bank said.

All donations will be doubled by the portfolio's partners in order to increase the reach and impact of each donation “significantly”, UBS said.

Additionally, the UBS Optimus Foundation guarantees that 100 per cent of each donation will go to portfolio programmes as the banking group covers all administration costs.

Combining result-focused programmes that address specific issues with a portfolio structure lets the best ideas flourish and reach the maximum number of people while allowing donors to maximise their immediate and long-term philanthropic impact, UBS said.

“The new Going Further portfolio offers UBS clients the opportunity to support a diverse set of world-renowned partners with best-in-class, result-focused programmes that can drive the large-scale global change needed to ensure children thrive,” said Sergio Ermotti, chief executive of UBS and chairman of the Optimus Foundation board of directors.