ABSTRACT
This chapter analyzes impact investing in the context of foundation asset management and investment regulations, focusing on the absence of a legal definition and its implications. It compares perspectives from the U.S. and Switzerland, examining risk/return profiles, the time horizons of foundations, and the legal bases for both the norm of perpetual existence for foundations and prudent investor standards. The chapter also covers tax exemption regulations, restrictions on business holdings, and authorized investment activities, offering valuable insights and recommendations for navigating the complex landscape of impact investing and foundation management.
