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Next generation of ultra-rich to spur take-up of donor-advised funds: Citi

The bank expects more demand in Asia as super wealthy individuals seek these funds for philanthropic needs

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Tan Nai Lun

Tan Nai Lun

Published Wed, Apr 2, 2025 · 07:19 PM
    • In March, the private banking arm of Citi launched new philanthropy advisory solutions in Asia, beginning with Singapore, amid rising client demand for such services.
    • In March, the private banking arm of Citi launched new philanthropy advisory solutions in Asia, beginning with Singapore, amid rising client demand for such services. PHOTO: REUTERS

    [SINGAPORE] The next generation of ultra-high-net-worth (UHNW) individuals will likely boost the uptake of donor-advised funds (DAFs) to meet their philanthropic needs.

    Karen Kardos, head of philanthropic advisory at Citi Private Bank, noted that younger family members may not always have the same interests as their parents or grandparents.

    This is where DAFs can be a tool for them to begin making an impact in their own passions and interests.

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