Ratan Tata sets up a new endowment trust

Ratan Tata sets up a new endowment trust

• By Staff Writer

Ratan Tata, chairman of Tata Trusts, has set up another personal endowment trust that legal experts believe might have been created with an aim of estate planning, with the proceeds from the corpus being harnessed to fund future charities.

The Ratan Tata Endowment Foundation was incorporated in September. It has two directors - Raghvan Ramachandra Shastri and Burzis Shapur Taraporevala.

Ratan Tata did not respond to ET's mailed query.

An endowment fund is usually set up to earn revenue to fund some type of charitable activity. Unlike a typical investment fund, the beneficiary of an endowment fund is a non-profit instead of an individual investor.