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Weekly Impact Investment Market Update: July 20, 2018

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Impact Investing & ESG
 

How ESG is Shaping Decisions for Many Investors in Asia
Increasingly more Asian Investors are establishing internal ESG standards.

How ESG Investing Entered the Mainstream
The rising importance of environmental, social and governance issues, aimed at improving corporate behavior, has led to charlatans “greenwashing” company credentials to attract investment.

At the Vatican, a Different Type of Investing Conference
There were several more nuns and priests in attendance than at a typical impact investing conference, but the third Vatican Impact Investing Conference, held last week, explored both where the field is headed globally and what role the Roman Catholic Church might have moving forward.

Bloomberg Law Q&A with George Michael Gerstein: Key Issues for Fiduciaries When Investing for a Cause
Many retirement plan participants and plan sponsors are no longer content with investments that simply bring them good returns. They also want their investments to do some good in the world.

ImpactAssets Unveils Portfolio Directory of Impact Investing Deals
ImpactAssets announced the roll-out of the Giving Fund Portfolio Directory, a listing of more than 300 “cutting-edge” impact investments. The online searchable directory represents $425 million in impact investments recommended by donors through the ImpactAssets Giving Fund.

 

United States & Europe
 

EU and Japan Sign Trade Deal Covering a Third of the World’s Economy
The European Union and Japan signed a huge free trade deal on Tuesday that cuts or eliminates tariffs on nearly all goods.

 

Developing Economies
 

Ghana’s Economy Seen Up to 40% Bigger after Data Overhaul
Ghana’s economy will be up to 40 percent bigger than previously calculated when the West African country completes an overhaul of its economic output data in September, two senior government officials told Reuters on Wednesday.

Nigeria Boost Sees IMF Lifting Sub-Saharan Africa Growth Outlook
Sub-Saharan Africa has Nigeria to thank for better economic growth prospects next year.

IMF Team Due in Zambia to Discuss Its Debt Levels
An International Monetary Fund team is expected in Zambia next week as part of consultations on the country’s debt levels.

Bank Indonesia Stays Hawkish as It Keeps Key Rate on Hold
Indonesia’s central bank left its benchmark interest rate unchanged after three hikes in a row helped to stabilize the currency in Southeast Asia’s biggest economy.

Mexico Aims to be Able to Ink NAFTA Deal by End-November
Mexican Economy Minister Ildefonso Guajardo said on Wednesday that the goal of Canada, the United States and Mexico is to be in a position to sign a new North American Free Trade Agreement (NAFTA) by the end of November.

Weekly Impact Investment Market Update: July 13, 2018

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Impact Investing & ESG
 

When Will “Socially Responsible” Investing Become Just “Investing”
This year marks the 10th anniversary of the global financial crisis, bringing with it an inescapable reminder of the power of the finance industry. While many tangible things have changed over the past decade—from stricter regulation to big banks’ leadership ranks—more subtle, yet no less consequential, shifts are also underway in the financial world.

Morgan Stanley: The Case for Sustainable Investing
Sustainable investing is the future. So insists Audrey Choi, Morgan Stanley’s chief sustainability officer, who presented at Barron’s inaugural Impact Investing Summit last month.

The Remarkable Rise of ESG
The term ESG was first coined in 2005 in a landmark study entitled “Who Cares Wins”. Today, ESG investing is estimated at over US$ 20 trillion in AUM or around a quarter of all professionally managed assets around the world, and its rapid growth builds on the (SRI) movement that has been around much longer.

Banks Pivot Toward Greener Finance in Climate Action Push
Some of Europe’s largest banks are unveiling plans to lend and manage money in greener ways as pressure mounts to account for risks associated with climate change.

 

United States & Europe
 

Fed’s Powell Says the U.S. Economy in ‘Good Place’ but Trade is a Risk
Federal Reserve Chairman Jerome Powell gave an upbeat assessment of the U.S. economy but warned a sustained period of high tariffs on a wide variety of imports could be harmful to growth.

 

Developing Economies
 

The Biggest Economies in Africa
South Africa’s struggle to keep its spot as the second largest economy on the African continent (after Nigeria) has seemingly abated.

Deputy Secretary of State Sullivan’s Remarks at the Africa Growth and Opportunity Act (AGOA) Forum
One of the best features of the AGOA Forum is the wide-ranging conversations from examining how to help women entrepreneurs develop agricultural exports to exploring energy investments.

As China Steps Up, Japan Isn’t Stepping Aside
Tokyo’s government and the private sector are reasserting influence in Asia and beyond.

Indonesia Trade Balance Seen Back to Surplus in June
Indonesia’s trade balance is seen returning to a surplus in June after posting larger-than-expected deficits in the previous two months.

Peru Keeps Rate at 2.75% to Bolster Copper-Fueled Rebound
Peru kept borrowing costs at their lowest level in almost eight years to maintain stimulus to an economy undergoing an a broad recovery fueled by a rebound in mining investment.

Weekly Impact Investment Market Update: July 6, 2018

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Impact Investing & ESG
 

5 Things About Sustainable Investing in the First Half of 2018
Five key takeaways from sustainable investing in the first half of 2018.

Legendary Investor’s Embrace of Sustainable Investing is New, but the Movement Isn’t
Earlier this month, hedge fund manager Paul Tudor Jones made headlines across the financial press with his comment that “capitalism may need modernizing,” during an interview with CNBC.

Demographic Trends are Driving Demand for Impact Investment- and the Industry is Starting to Adapt
Solving the world’s biggest social and environmental challenges is going to cost money. Lots of money.

ESG Investing and Fixed Income: The Next New Normal?
A quiet but profound pivot is underway in the sustainable investing space – a pivot that, in our view, will reshape markets and elevate fixed income to a place of prominence within the ESG field.

More Investors Engaging in the Battle Against Climate Change: PRI Chairman
Global investors are becoming more aware of the risk of the global warming and thinking that their investments can function as a spearhead to counter the problem, said the head of the world’s leading organization that advocates responsible investment.

 

United States & Europe
 

UK Economic Growth Bounces Back as Services Sector Expands
The UK economy has bounced back from a soft patch in the opening months of 2018, according to a closely watched survey of the services sector that showed stronger than expected activity last month.

 

Developing Economies
 

Emerging Market Debt to Gain from Monetary Tightening
markets have the policy tools and financing to ride the global growth wave to the top.

Emerging-Market Debt: Expect Volatility – And Opportunity
Summer is just beginning, but emerging-market (EM) bonds and currencies have been on a roller-coaster ride for months now. In markets, though, volatility breeds opportunity – and we still see plenty of that among EM issuers.

Latin America Seen Poised for Rally as Political Dust Settles
The political clouds are clearing, and one of Latin America’s biggest asset managers likes what he sees.

Weekly Impact Investment Market Update: June 29, 2018

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Impact Investing & ESG
 

Cambridge University Throws Weight Behind Impact Investing
The council of Cambridge University has made a landmark commitment to addressing climate change in its £3bn (€3.4bn) endowment fund following months of pressure from students and staff.

How ESG Investing Increases Risk-Adjusted Returns
You may not get to have your cake and eat it, too, but you can have your returns and invest responsibly thanks to ESG investing.

Millennial Money Changes the Game for US Advisers
Growing demand for ethical exposure and ESG products presents challenges and opportunity.

Sign of the Times: Designation for Financial Planners Underscores Demand for Impact Investing
An impact-investing oriented professional designation for financial advisors was recently unveiled by the College of Financial Planning, in collaboration with the US SIF: The Forum for Sustainable and Responsible Investment.

Wealthy Millennials Fuel Impact Investing Gains
Impact investing continues to gain momentum among high-net-worth Americans in 2018, largely driven by younger investors’ commitment to socially responsible companies.

 

United States & Europe
 

UK Economic Growth Revised Higher in First Quarter
The Office for National Statistics unexpectedly revised higher its third and final estimate for UK growth in the first quarter to 0.2%, after two earlier estimates of 0.1%.

 

Developing Economies
 

East African Economies to Enjoy Sustained Economy Growth
Ethiopia, Kenya, Tanzania and Uganda are East Africa’s economic powerhouses and are enjoying significant economic growth, with GDP forecasted to grow by between 5.2 per cent and 8.5 per cent in 2018, according to Ecobank’s the newly published East Africa section of AfricaFICC.

Tanzania Statistics Body Says GDP Reached $51 Billion in 2017
Tanzania said its gross domestic product in 2017 reached 116.1 trillion shillings, or $51.1 billion, according to the National Bureau of statistics.

How Private Equity is Shaking Up Southeast Asia
Western funds rush in as market reforms and rapid growth open up new opportunities.

Weekly Impact Investment Market Update: June 22, 2018

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Impact Investing & ESG
 

Money Managers are Flocking to a $23 Trillion Investing Strategy that Morgan Stanley Says is Ready to Take Off
Environmental, social, and governance investing — also known as ESG — has exploded in popularity, with roughly $23 trillion being invested with at least a partial ESG mandate.

Investors are Right to Consider ESG Risks, Says New Report by Corporate Governance Association
Investors are right to consider ESG risks because they can impact the worth of intangible assets which make up more than 80 percent of company value, said a new report by the Society for Corporate Governance.

84% of Investors Apply, or are Considering, ESG – Morgan Stanley
Eighty-four percent of asset owners globally are pursuing or considering ESG investing, said a survey released Monday by the Morgan Stanley (MS) Institute for Sustainable Investing and Morgan Stanley Investment Management.

ESG Roundtable: Great for Society, Good for Investors
Someday, it will be hard to imagine a time when investors didn’t study environmental impact, workplace culture, and reputational risk as part of their routine due diligence on companies.

Best Practices in Impact Management Begin to Take Hold
Impact investors are figuring out how to integrate impact throughout their investment process in ways that are efficient, effective, and authentic.

Fidelity Charitable Offers Impact Investing Education for Advisors
Fidelity Charitable, a major donor-advised-fund sponsor, announced Tuesday that it has introduced a new impact investing module as part of its practice management program to educate advisors about impact investing trends and approaches.

ESG Investing: The New Frontier for Investors
A distinct trend has emerged in recent years among the global investment community. Investors are increasingly looking beyond just the pecuniary returns they could earn on potential investments; instead, many are now also concerned about the wider impact their investments could have on the world, with regards to such issues as climate change, human-rights issues and gender discrimination.

Not Considering ESG Could Mean Failing Fiduciary Duty: Compenswiss
Investors that do not consider ESG risks in their portfolios risk breaching their fiduciary duty to members, according to the investment chief of one of Switzerland’s biggest asset owners.

 

United States & Europe
 

What is the U.S. Dollar Saying about the Economy?
The US dollar has rebounded in foreign-exchange markets since late March and continues to remain strong as the US economy remains relatively strong.

 

Developing Economies
 

Here’s the Projected Growth Rate for South Africa’s Economy
South Africa’s economy is expected to recover from a poor start this year, rescued by stronger growth in the rest of the world, a Reuters poll found on Wednesday.

Argentina Wins Upgrade to Emerging Status after Nine Years
Argentina won promotion to emerging-market status for the first time in almost a decade, rewarding President Mauricio Macri for his efforts.

 

Weekly Impact Investment Market Update: June 15, 2018

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Impact Investing & ESG
 

Emerging Markets Next on Map for Impact Investing
Impact investing in emerging markets might be poised for a major growth spurt, as proponents see pension funds and other institutional investors taking an increasing role in a field that largely has been filled by government financial institutions, foundations, and more specialized private equity managers.

How to Quench Investors’ Thirst for ESG Information
A large proportion of investors have recently assigned greater importance to companies’ environmental, social, and governance factors.

People are Really into Impact Investing
The amount of money being invested in “world changing causes” doubled in the last year–to $228 billion.

ESG Doubts Could Cost Male Advisors Female Clients
There’s a serious gender split when it comes to ESG investing, and it could cost male advisors.

Impact Investments Made by More than 70% of Millennials and Gen Xers
Just 30% of baby boomers and older investors have made similar investments, Fidelity Charitable finds.

U.K. Government Pledges Support to Expand Impact Investing
The U.K. government will work with the financial services industry to help make impact investing easier, including potential changes to pension fund law.

How Advisors Can Tap into the Growing $23T ESG Market
Worldwide sustainable investment assets jumped more than fivefold to nearly $23 trillion between 2006 and 2016, according to data from the Global Sustainable Investment Review cited by Morningstar.

 

United States & Europe
 

As Uncertainty Clouds Economy, Europe Pulls Back on Easy Money
It would not seem the ideal time to put the brakes on Europe’s economy. But that is what the European Central Bank is preparing to do.

 

Developing Economies
 

Sustaining the Global Expansion
Life is all about choices, they say. The choices we make today help determine the outcomes in the future. For the global economy, as well, today’s policy choices play a major role in shaping future growth prospects.

The Developing World’s Need for Natural Resources
Commodities haven’t had it easy lately. Depending on who you talk to, commodities have been in a bearish slump for six to nearly 10 years.

Nigeria’s Buhari to Sign Off 2018 Budget on Tuesday
Nigerian President Muhammadu Buhari will sign the government’s long-delayed budget into law on Tuesday, Information Minister Lai Mohammed said on Friday.

More than 60 Million Nigerians are Unbanked – World Bank
A 2017 World Bank Global Findex Database report on financial inclusion says that more than 60 million Nigerians are without bank accounts.

Tanzania to Raise 2018/19 Spending by 2.4%, Sees 7.2% GDP Growth
Tanzania will raise its spending by 2.4 percent in the 2018/19 fiscal year starting next month, with the bulk of spending allocated for infrastructure, education and water projects, its finance minister said on Thursday.

World Bank Says It May Raise Thai Economic Growth Forecast
The World Bank may boost its projection for economic growth in Thailand, where the pace of expansion hit a five-year high last quarter.

Brazil Sugar, Coffee Producers Lock in Profits on Currency Drop
Many Brazilian coffee and sugar producers saw a rare opportunity last week to fix prices with solid profit margins at a moment of global oversupply for both products, moving quickly to cash in when the local currency hit its cheapest levels in two years.

Weekly Impact Investment Market Update: June 8, 2018

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Impact Investing & ESG
 

Can Impact Investing Avoid the Failures of Microfinance?
The impact investment industry is growing rapidly. In 2010, J.P Morgan projected up to $1T in investment would be deployed this decade — which would make impact investing twice the size of official development aid to the world’s less develop countries.

Getting Asia Ready for ESG Investing
ESG investing is gaining traction globally because of the resilience it can offer in times of uncertainty and the value it creates to foster sustainability.

Everyone Has a Role to Play in ESG
There is, as yet, no legal requirement for pension schemes to provide or incorporate environmental, social and governance-led funds into their investments. So who is responsible for responsible investment and what role should different parties play in pushing this up the agenda?

Financial Inclusion for Emerging Economies – A Case for Private Debt Impact Investing
The impact investing industry marks another phase in its evolution by welcoming to its ranks deep-pocketed private equity firms like TPG, Bain Capital Management, and most recently KKR.

BC State Built a ‘Responsible’ Fund That’s Outperforming Its Main Portfolio
A college finds ESG investing is actually paying off.

ESG Funds: Impact and Alpha
These ETFs show that an adherence to companies with high-ranking environmental, social and governance scores produce more reliable earnings and can outperform the market.

 

United States & Europe
 

U.S Economy Extends its Hiring Spree, with a Better than Expected 223,000 New Jobs in May
The U.S. economy added 223,000 jobs in May as U.S. companies continued their hiring spree, according to the Labor Department’s monthly jobs report released Friday. The unemployment rate fell to 3.8 percent, the lowest since 2000.

 

Developing Economies
 

Bullish Signs in These Seven Charts Boost Emerging Markets
From Goldman Sachs Group Inc. to Morgan Stanley and Citigroup Inc., analysts say optimistic signs are hard to miss, touting high real interest rates, inflation that’s close to all-time lows and for the most part, the disappearance of those pesky current-account deficits so common to the 2013 taper tantrum.

Here is the World Bank’s New Economic Outlook for Sub-Saharan Africa
The report stated that countries like Ghana, Kenya, and Nigeria, experienced a pickup in manufacturing activity, while renewed government commitments to macroeconomic and governance reforms have boosted investor and consumer confidence in Angola, South Africa, and Zimbabwe.

Africa’s Most Promising Economy is Opening up to International Investors
Domestic and foreign investors will soon be able to get a slice of Ethiopia’s booming economy.

World Bank Puts Economic Growth Projection Indonesia at 5.3% in 2018
Still, the World Bank sees plenty of reason to stay positive about the Indonesian economy in the foreseeable future.

Vietnam GDP to Grow by 6.6% in 2018: ICAEW
Vietnam’s GDP is expected to grow 6.6 per cent in 2018, down slightly from 6.8 per cent last year.

IMF Agrees to $50 Billion Deal to Help Argentina’s Economy
Argentina and the International Monetary Fund agreed Thursday on a three-year $50 billion stand-by financing deal aimed at strengthening the South American country’s economy and helping it fight inflation.

Weekly Impact Investment Market Update: June 1, 2018

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Impact Investing & ESG
 

Give the People What They Want: Socially Responsible Investments in 401(k)s
If you spend much time reading the financial press nowadays, it’s likely that you’ve come across more than a few articles discussing the growing popularity of investing according to various social and environmental mandates.

Ahead of the Curve: Valuable Tools for EMs
The challenge is that ESG discussions are often accompanied by a degree of confusion because participants cannot agree on what it involves, whether it improves returns, or how it changes the risk profile. Greater clarity can be achieved by analyzing ESG through two separate lenses.

Forbes’ Impact Summit Will Bring Together Business Titans, Impact Investors, and Major Influencers to Drive Impact Investing and Impact Business Globally
Forbes Media announced its first-ever, invite-only Forbes Impact Summit on June 12-13, 2018 in Newark and New York City.

Preqin Solutions Launches ESG & Impact Module
The new solution will help general partners and investors deploy and manage their ESG & impact programs

 

United States & Europe
 

U.S. Economy Extends its Hiring Spree, with a Better than Expected 223,000 New Jobs in May
The U.S. economy added 223,000 job in May as U.S. companies continued their hiring spree, according to the Labor Department’s monthly jobs report released Friday. The unemployment rate fell to 3.8 percent, the lowest since 2000.

 

Developing Economies
 

Emerging Markets Expected to Expand 4.9%
Throughout 2016 and 2017, emerging markets staged an impressive rally.

Chile Sets New Economic Plans in Motion
In its first months in office, Chile’s new government is making a big push to put the country on a new fiscal path.

Secretary General Welcomes President of Colombia to NATO
Secretary General Jens Stoltenberg welcomed President Juan Manuel Santos of Colombia to NATO for talks on Thursday, marking the first-ever visit by a Colombian head of state to the Alliance. Colombia is NATO’s newest partner, and its first in Latin America.

Weekly Impact Investment Market Update: May 25, 2018

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Impact Investing & ESG
 

European Commission Proposes Regulations to Strengthen ESG Alignment
The European Commission wants institutional investors and money managers to demonstrate how their investments align with environmental, social and governance factors under proposed regulations.

GAO Urges Removal of Roadblocks to ESG Investing in Retirement Plans
ESG investing roadblocks in retirement plans should be removed, the Government Accountability Office (GAO), the investigative arm of Congress, urged in a report today.

ESG: What Institutional Investors are Saying about Sustainable Investing
At a Neuberger Berman conference, institutional investors discussed current trends in ESG investing.

One Key to Impact Investing: Start Big
Robert Rubinstein, 66, founder and chairman of the TBLI Group, has been advocating for sustainable, responsible or impact investing since the mid-1990s. One of the key lessons he’s learned: start big.

World’s Wealthy Investing in Companies that Care
A global investment club for the wealthy whose members aim to bring about social or environmental change as well as making a profit has grown by more than $1 billion in two years, according to a report.

 

United States & Europe
 

US Economy Back on Top of World Competitiveness Ranking
With dynamic growth and access to capital seen as primary factors for jumping three places, the US has regained its status as being on the cutting edge of competitiveness in a ranking by the IMD think tank.

 

Developing Economies
 

Easing Inflation, Stable Naira Show Nigeria MPC May Be Right
Nigerian central bank Governor Godwin Emefiele’s tight monetary-policy stance and system of multiple exchange rates may have paid off through slowing inflation and a stable naira, and he’s not about to change that soon.

Policies to Ensure Asia’s Sustained Economic Growth
The transcript of the fifth annual MAS Asian Monetary Policy Forum.

Here’s How India’s Economy is Faring After Four Years Under Modi
Prime Minister Narendra Modi completes four years in office on May 26. He’s used the time to give India its biggest tax reform, overhauled a century-old bankruptcy law, revived stalled projects and got the World Bank to say Asia’s No. 3 economy is a much better place to do business.

Brazil Economy Advances in First Quarter, Set to Accelerate
The Brazilian economy likely expanded for a fifth straight quarter in the first three months of 2018, a Reuters poll of economists showed, suggesting fears of a slowdown may have been overblown.

Colombia to Become a Member of the OECD International Economic Organization
Colombia is set to be the third Latin American country in the Paris-based economic group. President Juan Manuel Santos praised the membership as key to the country’s efforts to modernize.

Weekly Impact Investment Market Update: May 18, 2018

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Impact Investing & ESG
 

A New Multibillion-Dollar Investment Revolution is Being Led by This Woman
Jean Case, the wife of AOL founder Steve Case, is a leading advocator for impact investing in the United States.

The Giant Market Opportunity Investors Are Overlooking
What if I told you that one of the largest megatrends in the world today—representing a market opportunity worth trillions of dollars — is being overlooked by investors?

Here’s the Fastest Growing Strategy in Smart Beta
Quantitative fund managers are being swept into the explosion of investor interest in strategies tied to environmental, social, and governance factors.

Wealth Managers Expect ESG Strategies to Flourish
Two thirds of professional investors expect to allocate more money to ESG strategies in the next three years.

How to Use ESG to Protect Investors from Downside Risk
ESG should be core part of investment philosophy rather than application of external ratings.

Rise and Rise of the Socially-Conscious Investor
There is rising evidence that allocating a part of one’s investments using strategies that incorporate ESG can have numerous benefits.

How to Meet Client Demand for Impact Investing
Advisors have an important role to play in translating a client’s preference for impact into practical strategies.

 

United States & Europe
 

Rising Oil Prices, Once a Big Negative, May Now be ‘A Wash’ for the US Economy
The rise of the United States to become the world’s second-largest oil producer has changed the calculus for how rising energy prices affect the economy.

 

Developing Economies
 

Gains in Financial Inclusion, Gains for a Sustainable World
Financial inclusion has emerged as a critical development challenge and is a hot topic among policymakers, development practitioners and the private sector.

How Africa is Building a $3 Trillion Free-Trade Future
While the U.S. and China are trying to outdo each other with import tariffs and the U.K. wants to break away from the European Union, African leaders are working on a free-trade agreement that will cover a whole continent.

Nigeria is Leading on Pan-African Free Trade Despite Not Even Signing Up to the Deal, Bank Chief Says
The African Union is proposing a continent-wide trading bloc that would result in the largest free trade area in terms of participating countries since the formation of the World Trade Organization.

‘Population Bonus’ Pushes Up Asian Growth
New free trade deals and intra-regional demand help maintain economic boom

Brazil Calls for Japan-South America Economic Partnership
Foreign minister suggests launching talks at November G-20 in Argentina.