by Benjamin Bailey, CFA, Praxis Mutual Funds & Everence Financial
Praxis Mutual Fund shareholders expect us to invest with their values in mind. The Praxis Impact Bond Fund turned 25 this year and through the first half of the fund’s tenure we diligently focused on screening out holdings contrary to those shared values. In 2006, our eyes were opened by a public bond offering that showed us what positive impact bonds (those bonds that make a positive impact on the climate and/or communities) could do.
One of Daniel Taylor’s earliest memories of real estate was asking his dad what “receivership” meant.
Taylor was a nine-year-old in Texas, and the savings and loan crisis barreled through the state like a cyclone. Profligate lending and overbuilding in the 1980s were made worse by an oil bust and a collapse in crop prices. “The Dallas real estate world was wiped out,” Taylor recalled. “I remember people around town losing their houses. I went to elementary school with kids whose dads were in serious financial trouble.”
Insights from the President of Parnassus Investments
By Benjamin E. Allen, President, Parnassus Investments and a portfolio manager for the Parnassus Core Equity Fund
As President of Parnassus Investments, I often think about what responsible investing might look like over the coming decades. The future is anchored in the past, so I believe the best way to begin an answer to this question is with a look back at the early years of responsible investing.
General Motors, The Skillman Foundation and the Cody Rouge Community Action Alliance are collaborating to revitalize and strengthen the Cody Rouge community in Detroit. The groups will amplify collective strengths and capital – both human and financial – to achieve measureable positive change in the neighborhood, which recently announced a strategic, resident-led transformation plan.
GM will invest $225,000 to three nonprofits to support classroom readiness, sustainable employment and neighborhood revitalization, an approach aligning with GM’s social impact strategy for Detroit.
by Sean Tennerson, Program Officer, The Case Foundation
For those of you who know the Case Foundation, we’re bullish on the impact investing movement and the power of private capital for public good. While still a relatively small market, impact investments are surging, with some seeing a trillion-dollar market potential by 2020. Against that context, we do a lot of thinking about what is standing in the way of tipping significantly more interested investors to activated investors.