Arts and culture
Triodos Bank has pioneered arts and culture finance for many years. While the cultural sector is currently subsidy and charity focussed, particularly in The Netherlands, Triodos Bank promotes a sector that’s served by diversifying its finances, incorporating a spread of grants, charity, subsidies and commercial finance. Its fund is designed to help deliver this transformation in the sector.
Triodos Investment Management manages The Netherlands based and focussed Triodos Cultuurfonds to help achieve these goals. The fund was launched in 2006 and invests in cultural projects that aim to improve and preserve arts and culture.
By the end of the year, the fund’s total net assets had decreased by 15.6% to EUR 103 million (2012: EUR 121 million).
2.5 million people visited theatres and museums, and 1,800 artists took advantage of affordable arts space financed by Triodos Cultuurfonds in 2013.
The Domijn cultural centre in Weesp, The Netherlands, is built on land that used to be owned by the Dutch Ministry of Defence. A group of artists formed a cooperative and bought and rebuilt the area using a loan from Triodos Cultuurfonds. The area is now made up of affordable spaces for artists, as well as promoting a rich diversity of cultural activities across the area.
Triodos Cultuurfonds is seeking investments in projects that have diversified revenues and commercial entertainment companies, whilst still continuing to provide investment for theatres, museums, and artist-collectives. Adding new types of cultural institutions to its portfolio should result in stronger returns from the fund.
Triodos Cultuurfonds should remain attractive to investors in 2014, impacting directly on the healthy development of the Dutch cultural sector. The volume of the fund’s assets under management is expected to remain stable in 2014.