Community Foundation Wales have appointed local investment firm Brewin Dolphin to manage £10 million of their charitable funds that support community groups in Wales.

The specialist Cardiff-based charity team at Brewin Dolphin have been selected to work with Wales' independent charitable foundation to help grow their endowment funds.

This comes as Community Foundation Wales celebrates its 20th year with news that it has so far invested £25m in community groups in Wales.

Community Foundation Wales, which is based in Cardiff, works with their generous supporters and partners, to find and fund local projects that help strengthen communities across Wales.

Community Foundation Wales will work with Brewin Dolphin to invest the endowment fund as a long-term sustainable fund that benefits community groups today and for the future. Alongside this, the Community Foundation Wales will continue with its long-running partnership with investment partner CCLA.

Community Foundation Wales works with philanthropists to support community projects across Wales, and also deliver grant-making programmes in Wales on behalf of other funders.

Income from their endowment funds are allocated to grant programmes in Wales on an annual basis.

Alun Evans, Chairman of Community Foundation Wales, said:

“We are delighted to have appointed Brewin Dolphin to manage the bulk of our endowment portfolio and look forward to working together in the future. Money managed in Wales for the benefit of Welsh communities.”

David Myrddin-Evans, head of office, Brewin Dolphin Cardiff (who also oversees the office’s charity business) said:

“We are delighted to have been appointed to this vitally important role, helping Community Foundation Wales deliver its financial goals. We look forward to working with the team to continue to grow their investment in community groups further.”