自去年年初以来,乔恩·芬尼在CTC的职责myCFO have included building out the impact investing practice. Finney’s mission as director of impact investment with the $41 billion registered investment adviser: Identify opportunities that deliver social and environmental benefits as well as financial returns.
与其他rias一样，芝加哥总部CTC MICFO正在看到对可持续，负责和影响（SRI）投资的更多兴趣。坚定的意见影响，其高调的支持者包括英国风险资本主义爵士罗纳德科恩和eBay创始人Pierre Omidyar，作为下一代SRI。
Impact investments let clients “hone their SRI interest to specific social and/or environmental interests, geographic regions or specific companies, among other advantages,” says Portland, Oregon–based Finney, who reckons that 5 to 10 percent of CTC myCFO’s 300-plus clients have inquired about SRI opportunities.
这些投资者是日益增长的趋势的一部分。根据华盛顿的美国的美国SIF，2012年初，2012年初和2014年初，使用SRI策略的托管资产从76％膨胀，从3.74万亿美元到6.57万亿美元。全国性的，此类资产现在占每6美元的1多家，我们在美国SIF报告中。
Institutional investments make up roughly two thirds of the SRI total, but a February 2015 survey by the Morgan Stanley Institute for Sustainable Investing found that 71 percent of individual investors are interested in sustainable options.
“人们曾经认为他们的投资组合只是生计，”Regentaltlantal Capital的研究和合作伙伴总监Andy Kapyrin说，在新泽西州莫里斯敦的30亿美元，RIA。但客户的态度正在发生变化，Kapyrin注意：社会问题已经开始影响他们的投资组合决定。例如，一些不再分配给他们发现令人反感的行业，就像参与烟草或武器的那些。其他人正在寻求旨在解决遵守妇女疾病等问题的投资。
reventatlantthand other RIAs agree that more clients,特别是千禧一代，1981年至1996年间出生的人口群落，想要有关社会负责任投资的信息。Kapyrin估计，他公司的2％的客户专注于SRI;根据他们关于烟草等行业的保留，另外4到5％的人将获得订阅。为了迎合这些客户，Regentatlal致力于解决他们担忧和努力使投资组合变得多样化的策略和投资。
原来的SRI使用所谓的负面屏幕来消除与投资者价值相冲突的行业和公司。考虑到环境，社会和治理（ESG）因素在20世纪90年代中期获得牵引力，管理人员开始采用积极的，包容性的屏幕来识别具有强大社会和环境轨道记录的公司。
鉴于投资者可用的各种方法，rias的客户对如何制作他们的投资组合的不同之处并不奇怪。副总裁Mick Bleyle在丹佛的140亿美元的创新投资组合解决方案中，他的一些客户希望负面屏幕;其他人更喜欢积极，包容性屏幕或希望探索影响投资。
Screening out broad categories like tobacco and weapons remains the easiest SRI strategy to implement, but Kapyrin warns that imposing multiple negative screens can reduce diversification opportunities. Bleyle and CTC myCFO’s Finney report that more of the investment managers they work with are including positive screens in their research, which reduces the RIAs’ workload.
对社会负责任的投资的一个共同批评是他们在经济奖励方面跌倒了。但是，根据摩根斯坦利可持续投资研究所，此类投资产生竞争回报，这是可持续投资研究所last March published a report检查超过10,000个开放式共同资金的性能，以及其他2,800个单独托管的账户。一个发现：对于从2007年到2014年学习的64％的期间，与传统同行相比，可持续的共同基金在与传统同行相比时具有平等或更好的回报和平等或更低的波动。
作者的结论：“我们最终发现投资可持续性通常会达到，并且经常超过，具有可比传统投资的表现。这是绝对和风险调整的基础，跨越资产类别和随着时间的推移。“
At Innovest, more clients are moving toward impact investing, Bleyle says. In most cases, though, that interest hasn’t translated into dollar commitments. Some clients have decided to keep making impact investments through their private foundations’ grants, but others are unsure how proceed when it comes to their portfolios.
“We have clients that have been discussing allocating a percentage of their portfolio to impact investments,” Bleyle explains. “We have clients who have been discussing using impact investment loans as part of their fixed-income allocation.” In early March, to help them decide, Innovest is co-sponsoringCO Impact Days是一个为期三天的丹佛事件，将与社会企业联系慈善家和投资者。
Although managers may consider impact investments at a global level, RIAs’ clients often seek local opportunities, where they can play a more active role, Bleyle says. He’s found that his firm’s diverse client roster, which includes nonprofits, can serve as an informal network for donors and local organizations seeking funds: “It makes for a great opportunity to match some of those pairs of individuals, both those that are seeking capital and those that are looking to invest the capital.”
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