Ratan Tata sets up new endowment trust, likely to fund charities in future

Trusts and foundations are typically set up for estate planning, not investments

Ratan Tata, chairman of Tata Trusts, has set up another personal endowment trust, The Economic Times reported on Friday. It cited legal experts as saying that the aim behind creating the Ratan Tata Endowment Foundation could be estate planning, with the proceeds from the corpus likely to go to charities.

The trust was incorporated in September and it has Raghvan Ramachandra Shastri and Burzis Shapur Taraporevala as directors. 

Besides this endowment trust, Shastri is also on the boards of 7 other entities, including the Council of Philanthropies for Climate Action and Odisha Cancer Care Foundation. Taraporevala is on