Dalio Philanthropies makes US$25m grant to WMI for new programme

BILLIONAIRE investor and philanthropist Ray Dalio is making a US$25 million grant to Singapore's Wealth Management Institute (WMI) for the launch of a programme on sustainable market principles.

The Dalio Sustainable Market Principles Program will be aimed at training investment professionals and policymakers on universal principles of market behaviour.

The grant is being made by Dalio Philanthropies, founded by Mr Dalio. Mr Dalio is founder, co-chairman and co-chief investment officer of Bridgewater Associates. He is regarded as one of the world's most influential experts in global economics and investing. He grew Bridgewater Associates out of a two-bedroom apartment into one of the world's largest and most successful hedge funds.

Mr Dalio himself has had a long relationship with Singapore, having advised policymakers and the country's sovereign wealth funds since the 1990s. In a statement through WMI, he said: "I have known Singapore for many decades and have had the privilege of seeing this country develop into a globally-admired example of wise governance and management of public investments.

"Through this initiative with WMI, my family and I hope we can contribute to Singapore's continued development and enhance the level of investment knowledge and expertise throughout the region."

A dedicated advisory board for the programme will be established, chaired by Mr Dalio and will include Ng Kok Song, WMI chairman emeritus, and other leaders from the industry and public policy. The board will guide the development of the Program and its curriculum.

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WMI said the Dalio Sustainable Market Principles Program aims to combine "knowledge and practical capability, hone acute market awareness, and encourage inquisitiveness and the desire to continually review assumptions and ensure a solid understanding of a fast-evolving environment".

The Program will span economic fundamentals, market fundamentals, portfolio construction and risk management, and case studies. It is expected to be relevant for those working in asset management, national economic and development agencies, as well as policymakers and investors.

The grant may also be used to support research, signature conferences and other thought leadership forums.

WMI chief executive Foo Mee Har said the Program is likely to be launched in January. In addition to the core curriculum, it may also feature special topics such as investing in a post-Covid world, tech disruption and ESG (environment, social and governance).

Mr Dalio is expected to take a personal interest in the Program. "He is so passionate about this Program. He knows he's going to be able to pass on what he has, and that we will build on it and take it further."

She expects the Program to be well received. It will be offered as part of the WMI executive training programme targeted at professionals. But it may also eventually be part of a graduate qualification or a master's degree.

WMI chairman Lim Chow Kiat said: "Singapore values the opportunity to work with Dalio Philanthropies to become a centre of excellence that advances knowledge, builds capabilities and cultivates thought leadership on market principles. The partnership is strongly aligned with WMI's practice-based curriculum and will enable investment managers and policymakers in Singapore and the region to hone fundamental skills."

Monetary Authority of Singapore (MAS) managing director Ravi Menon said the Program "has every promise of being truly transformative". "The keen insights and deep expertise that Ray Dalio brings will help raise Singapore's suite of education programmes in wealth management towards the highest international standards. This resonates with the high priority MAS places on deepening the skills and capabilities of our financial industry workforce."

Singapore Economic Development Board chairman Beh Swan Gin said: "This partnership harnesses Mr Dalio's expertise and WMI's platform to advance capabilities in asset management and capital allocation in Singapore and the region. We strongly welcome the initiative because it addresses the need for more and better stewards of financial capital in fast-growing Asia. We thank Dalio Philanthropies for their generous gift."