Endowment fund

The funding of the activities and the sustainability of the Fundação Maria Cecilia Souto Vidigal are guaranteed by means of its endowment fund, which was started with donations from the Foundation’s founders. This initial sum has been administrated to achieve real gains, enabling the execution of initiatives focused on attention to Early Childhood and structuring the selection, monitoring and improvement of these initiatives.

With its own governance structure and transparent processes, the endowment fund involves two strategic inspection and control agencies: the Investment Committee and the Board of Trustees. The operation and management of the endowment fund are performed by specialist companies, selected and contracted by the Foundation with the support and monitoring of independent specialists.

The decisions relating to the endowment fund are based on the Foundation’s investment policy that establishes the investment limits and directives, amongst other issues. As such, the managers are responsible for finding the best long-term return within the risk limits contracted.

In 2022, the Endowment Fund’s nominal income was 6.07%, surpassing inflation by 0.27%. Despite the rise of Brazil’s GDP in the year in question, the price of assets was notable for the high volatility. The investments linked to the IDC showed the best performance for the year, followed by assets linked to inflation, these being beneficiaries of the IPCA, which closed the year at 5.8%.