The Seba CZ Scholarship Fund
Dear Friend,
It gives me pleasure to report to you on the progress of The Seba CZ Scholarship Fund.
At the end of the last financial year (31st August 2008) the Fund had assets valued at CHF 346,230. This represents an increase of CHF 115’066 for the year.
Donations for the three years ending 31st August 2008 total CHF 207’761. This figure doesn’t include the generous founding gift from AEA Investors, the private equity firm where Seba worked.
The Fund has not yet made any disbursements but it has now reached a size where awards can be considered.
At 31st August 2008, the Fund held the following assets:-
- Swiss Franc Cash 24.1%
- Swiss Government Bonds 2.75% 2012 34.3%
- Equity Funds
- Capital International Global Equity 20.8%
- Fidelity World Fund 20.8%
Aiglon College’s accounting convention values securities at the lower of cost or market value. At 31st August 2008 the investments held in Aiglon’s restricted and endowment funds, which include The Seba CZ Scholarship Fund, had a market value slightly higher than cost.
I am delighted to report that we, Seba’s family, and the Board of Governors have recently agreed on a modified charter to broaden the scope of the Fund. In addition to the original purpose, which was to cover the incidental expenses of studying at Aiglon, the Fund objectives now include scholarship awards. This is a very significant and positive change.
The charter does not permit the corpus donation from AEA Investors ($100’000) to be disbursed but other capital and all the income on the Fund can be applied to meet its objectives.
May I remind you that awards from the Fund will be for students from Oriental and African countries. Seba not only had a special attachment to these lands and their cultures but the troubled times we are living in demand a deeper understanding between East and West. I strongly believe that a shared educational experience at Aiglon during the formative years will help the next generation of leaders to work in harmony and guide the world towards peace and mutual respect.
I sincerely hope that you share my enthusiasm for the revised objectives and that you will consider making further contributions to the Fund. I truly believe that the Fund can convert your support into valuable help for our struggling world.
Yours with gratitude,
Fiorina Zavanelli
14th February 2009
NB: please also see details of the Endowment Challenge Grant All gifts made to the Seba CZ Scholarship Fund in 2009 and 2010 will be counted towards the Endowment Challenge Grant.
