The background to the establishment of the fund is that the operation of the castle with its attendant agriculture is difficult to reconcile with Prince Joachim and Princess Marie's other activities and involvement in official duties and patronages. The couple also want to move to Copenhagen area for family considerations.
Prince Joachim and Princess Marie are committed to maintain their close ties to the Møgeltønder community in Jutland. As patron, the couple will therefore continue to reside in the Palace for small periods of the year.
"Princess Marie and I are pleased with the solution that we have found with the founders of the new fund. It has been a difficult decision to leave Schakenborg, but I'm convinced that this solution ensures Schackenborg's future "says Prince Joachim.The founders made a deposit of 113 million USD in the establishment of Schakenborg Foundation. Prince Joachim gave a deposit of 13 million, the same to the value of the people's present that was given to Schakenborg in 1995.
The fund's objective is to maintain Schackenborg Palace as one of the region's most important historic buildings and ensure that the cultural value that the Palace has for the region, continues to evolve.
The Schakenborg Fund will be responsible for the maintenance of Schackenborg Palace and park and the manage of the agricultural land falling under the Fund.
The Fund's stablishment will come to effect on 1st July.