Author: MBC Strategic

Weekly Impact Investment Market Update: June 30, 2017

Posted on by MBC Strategic

Impact Investing & ESG:

Data: The Next Frontier for Impact Investing

The Case Foundation seeks to fill the data gaps in impact investing performance; currently, the foundation can account for geography for only about 58 percent of included companies.

Will Impact Investors Embrace Employee-Owned Companies?

For social entrepreneurs concerned about growing income inequality in the U.S. and around the world, one way to spread the wealth is through employee ownership. According to a new report, while impact investors have yet to embrace the field wholeheartedly, there’s at least some interest in the area.

‘Future of Impact’ Requires Investment, Philanthropy – and Business as a Force for Good

Liquidnet hosted a forum June 15 at our NYC offices: The Future of Impact to address how to bridge the gap between listening to elite institutions of philanthropy, and hearing the voices and the perspectives of the people who need help.

 

ESG

Institutional Investors More Likely to Invest in Companies with Business-Driven ESG Disclosures, According to New White Paper

Ninety-eight percent of institutional investors say a company with strong environmental, social and governance (ESG) initiatives makes for a more attractive investment, according to the newly released white paper, Is Your ESG Report Getting Noticed?, developed by Burson-Marsteller, a strategic communications and global public relations firm, and research firm PSB.

Want to Attract HNW Millennials? An ESG Strategy may be the Answer

The greatest wealth transfer in history is underway, with $59 Trillion expected to be passed down to baby boomers’ heirs, charities, and taxes, and more than $30 Trillion in wealth set to be transferred from this aging generation to their millennial children.

Can Good Corporate Citizenship be Measured?

Big investors, like pension funds and others, have publicly declared that they now consider environmental, social and governance issues to be key metrics of their investment decisions. To pass muster, companies seeking their favor must show a proven track record of responsible stewardship in all three categories.

 

United States and Europe

Michael R. Bloomberg Announces $200 Million American Cities Initiative to Help U.S. Cities Innovate, Solve problems, and Work Together in New Ways

In an address at the U.S. Conference of Mayors’ Annual Meeting in Miami, Michael R. Bloomberg announced the American Cities Initiative, a suite of new and expanded investments that will empower cities to generate innovation and advance policy that moves the nation forward.

 

Europe

Groupe BPCE Becomes the First Bank to Issue a Samurai Social Impact Bond

BPCE has successfully completed the marketing of the first yen-denominated social impact bond on the Japanese market. This inaugural social issue totaling 58.1 billion yen (approximately €470 million) is intended to refinance loans granted to the clients of Groupe BPCE’s 15 Banque Populaire banks and 16 regional Caisses d’Epargne in the education, healthcare and social sectors.

Developing Economies

Africa

Tanzania Current Account Deficit Narrows 50% in Year to April

Tanzania’s current account deficit halved in the year to April, helped by a decline in imports and surging tourism and gold export earnings, the central bank said on Tuesday. The trade gap narrowed to $1.6 billion, from $3.21 billion in the previous 12-month period, the Bank of Tanzania (BoT) said in its monthly economic report.

Latin America

Brazil, China Open $20 Billion Fund for Infrastructure, Tech Projects

A China-sponsored, $20 billion (15.72 billion pounds) fund is ready to receive investment pitches. The fund agreed on last year is expected to help finance the construction of railroads. This will link Brazilian soy- and corn-producing areas to ports, potentially boosting Brazil’s economy as it slowly emerges from a deep recession.

Asia

China Launches Five “Green Finance” Pilot Zones

China has launched five pilot zones to promote “green finance” and help pay for a war on pollution that is expected to cost at least 3 trillion yuan ($440 billion) a year. The five zones will be set up in the provinces of Guangdong, Guizhou, Jiangxi and Zhejiang, as well as the far western region of Xinjiang.

Developing Economies

Goldman’s Currency Advice for Emerging Market Oil Pain

Emerging market assets move with commodity price trends, and oil prices matter, but “there are still opportunities for investors to earn good carry” despite the grind lower in oil prices, Goldman Sachs says.

 

Weekly Impact Investment Market Update: June 23, 2017

Posted on by MBC Strategic

Impact Investing & ESG

Impact Investing

Grand Challenges for Impact Investing: SOCAP’s Good Capital Project Seeks to Streamline an Unruly Field

The kickoff event explored the six “Grand Challenges” for impact investing in six concurrent breakout sessions.

 

2017 Social Progress Index

The Index includes data from 128 countries on 50 social and environmental indicators which measure social progress by a country’s performance on Basic Human Needs, Foundations of Wellbeing, and Opportunity.

 

State of the Small & Growing Business Sector 2016

This annual ANDE report contains the data on capacity development and direct investments into SGBs, and explores trands and activities in ANDE’s six most established chapters: Brazil, Central America/Mexico, East Africa, India, South Africa, and West Africa.

 

Readying an ‘Impact IPO’ on the London Stock Exchange

The Impact Investment Trust, will be one of few emerging market impact investing opportunities available to individual small investors, and seeks to raise $150 million generating 8% returns.

 

Sustainability Minded Indexers Get More Choices

As sustainable investing has joined the mainstream, more actively and passively managed mutual funds have been launched.

 

A History of Impact Investing

In this article, Investopedia provides an overview of the 3500-year history of impact investing, from its origins in Jewish law to principles and regulations implemented today. READ MORE…

ESG

Helping Investors Understand the Importance of ESG

This interview with Suzanne Fallender and Irving Gomez from Intel Corporation explores how the company has brought together sustainability and investor relations, and why this is important.

United States and Europe

Stocks Buoyed by Tech Rebound; Dudley Remarks Lift Treasury Yields

The tech sector is up 1.7 percent, pushing world stock markets up.

Emerging Markets

Emerging Markets: What Has Changed

This article summarizes changes in emerging markets ratings, and notes significant events which will affect the investing climate.

Banking the Unbanked in Emerging Markets

While 93% of the US population has access to banking, an estimated 2 billion adults do not. To address this, fintech startups are offering both online and mobile solutions, such as Oymoney and dLocal.

Africa

Experts Suggest Steps to Nigeria’s Sustainable Growth

Nigeria must promote the role of the private sector and handle the budget to help the nation move out of a recession.

Asia

Asia Firms’ Confidence at Three Year-High on Brighter Global Outlook-Thomson Reuters/INSEAD

A reading of over 50 indicators from the Thomson Reuters/INSEAD Asian Business Index shows a positive six-month outlook.

Weekly Impact Investment Market Update: June 16, 2017

Posted on by MBC Strategic

Impact Investing & ESG

Impact Investing

A Social Investment Ecosystem Emerges in Vietnam, Cambodia and Myanmar

This interview with Nguyn and Aarti Mohan discusses highlights from their report on the landscape for impact investing in 14 Asian countries.

3 Ways Millennials are Influencing Global Investing

Millennials contribute to global investment through peer-to-peer collaboration, new entrepreneurial ventures, and socially responsible impact investing.

The ’23 Fund’: A New Model for Growth Capital in the World’s Poorest Countries

This article explores a model for a fund dedicated to growth capital equity investments in the world’s 23 poorest countries.

“In the Future, All Investing will be Impact”

The symposium discussed the possibility of impact investing being woven into traditional investment firms’ existing practices.

Investing in Women: New Evidence for the Business Case

The IFC’s report shows that closing gaps between men and women in the private sector leads to business benefits and better development outcomes alike.

ESG

Why It Matters that S&P 500 Companies Report on ESG

Companies which publish sustainability reports are more likely to experience lower operating expenses, greater competitive advantage, and gives them a leg up in the marketplace for their products and services.

High ESG Performance Translates Into High Financial Performance

Chris McKnett, Managing Director of State Street Global Advisors, and Mirtha Kastrapeli, Global Head of State Street’s Center for Applied Research, discuss the benefits and challenges of implementing an ESG framework in an investment portfolio.

United States and Europe

United States

Fed Raises Rates, Maintains Forecast for One More Hike

This marks the third increase in the Federal Reserve interest rate in six months in an attempt to normalize the government’s balance sheet.

Arlene Foster Calls for ‘Sensible Brexit’

The Democratic Unionist Party leader seeks to work with Northern Ireland and the Republic of Ireland to craft a Brexit which reinstates Irish institutions and emphasizes power sharing.

Emerging Markets

New Energy Outlook 2017

Focused on the electricity system, NEO combines the expertise of over 80 market and technology specialists in 12 countries to provide a unique view of how the market will evolve.

Africa

Tanzania: Raising Agricultural Ministry’s Budget to Benefit Rural Folks

The agriculture industry provides an income for 65 percent of the Tanzanian population, so any efforts to improve the country’s living standards must seek to fight climate change and improve the economic climate for farmers.

Tanzania Central Bank Announces New Capital Rules for Banks

The new capital requirements are part of efforts to implement Basel III guidelines, which were introduced after the 2008/2009 financial crisis.

Latin America

Colombia Farc Rebels ‘Committed to Disarmament’

The United Nations Mission in Colombia says it has received 40% of the weapons registered by the Farc rebel group, a figure which falls short of the 60% they should have received by now.

Southeast Asia

India Cedes Best-Performing Emerging Market Tag to South Korea

Emerging markets have outperformed developed markets in 2017 so far, with Indian markets up 24 percent and South Korean markets up 25 percent.

 

Weekly Impact Investment Market Update: June 9, 2017

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Impact Investing & ESG:

Impact Investing

Impact Measurement: How Much Is Too Much? How Much Is Not Enough?

This article is the third installation of a three-part series exploring why ESG reporting is important, how it’s reported, and how much reporting investors should expect.

Sustainable Businesses can Unlock US$5 Trillion in New Market Value in Asia by 2030

A report entitled “Better Business, Better World Asia” was released from the Business & Sustainable Development Commission. The report breaks down Asia’s economy into four segments, and explores which development opportunities are most prevalent in each.

Fellow Travelers: Bringing Emerging Markets and Impact Investing Back Together (Part 1)

This article is the first installment of a three-part series exploring the relationship between impact investing and emerging markets. This installment deconstructs three attributes of impact investments: definitions, scope, and returns, and focuses on defining terms.

Fellow Travelers: Impact Investing in Emerging Markets is Growing but Not Fast Enough (Part 2)

This second installment focuses on the scope and returns of investing in emerging markets. Almost half of emerging market investors invest in companies in the growth stage, while developed market investors invest primarily in mature, private companies.

Fellow Travelers: Where Impact Investing in Emerging Markets Goes from Here (Part 3)

This final installment focuses on ways to integrate impact investing and emerging markets going forward. Development finance institutions should center their products around investor feedback; documentation and reporting should become standardized; and capital should be increasingly provided through debt, as in developed markets, rather than through equity.

Foreign Investors to Pour Nearly $1 Trillion into Emerging Markets in 2017: IIF

Now that the risk of trade friction between the US, Mexico, and China has decreased, foreign investment is expected to reach $970 billion, a 35 percent increase from last year.

Impact Investing Get a B+ on its Annual Report Card (Podcast)

This podcast explores how impact investing must grow and improve to keep up with global financial markets. Currently there are $114 billion in impact assets under management, which is 47% larger than the 2015 total of $77 billion, and 90% larger than the 2014 total of $60 billion.

ESG

Evan Harvey, Nasdaq: ESG Reporting – Six Reasons Why

This article explores six reasons to report ESG factors: overcoming framework and questionnaire fatigue, gaining competitive advantage, broadening investor outreach, redefining internal value metrics, boosting recruitment and retention, and true enterprise risk management.

United States and Europe

United States

Oil Settles at $45.72, Down 5.1% at 5-Week Low, after Big US Stockpile Rise

Crude stocks in the US grew 3.3 million barrels to 513 million barrels, which contradicted the prediction of a drop of 3.5 million; this caused oil prices to drop by nearly 5 percent.

Europe

UK Election 2017: Conservatives Lose Majority

Theresa May called the election to try to increase her leverage in EU discussions on Brexit; instead, her party lost seats, leading Britain into uncertainty about future negotiations.

Emerging Markets

Africa

Price of Corn, a Kenyan Staple, Soars

Drought and corruption are seen as catalysts for the spike in corn prices, which brought the staple out of reach for many working-class Kenyans.

Asia

Indonesia May See up to $200 Billion in Investment after S&P Upgrade: Minister

Indonesia may see an increase of up to $200 billion in investment after S&P Global Ratings upgraded the nation’s sovereign ratings to investment grade.

Weekly Impact Investment Market Update: July 7, 2017

Posted on by MBC Strategic

Impact Investing & ESG

Impact Investing

Steering Impact Investing Toward a 2020 Tipping Point

On the heels of the G20 meeting in Hamburg will come a summit of the Impact 16 in Chicago. 16 countries, with the recent addition of Finland and Argentina, have formed national advisory boards to accelerate the practice of impact investing.

An Impact Investing Tent Big Enough for the Problems We are Trying to Solve

This article by the CEO of the GIIN explores the network’s goals and aspirations in the impact investing sphere.

ESG

World’s Largest Pension Fund Selects Three ESG Indices for $9 Billion Investments

Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, announced Monday that it will shift 3% of its passive domestic equity investments (roughly $8.8 billion) into ESG indices.?

Establishing A Global Standard With Water In ESG Integration

Water resource groups all share the urgency for understanding one important concept, sustainability. Over time and research, these groups have analyzed how critical it is for institutional investors to strengthen their understanding of water in ESG integration.?

Asia Pacific Investors Take the Lead on ESG Integration

Asia Pacific investors have leapt ahead of their global counterparts in integrating ESG strategies into their investment decisions, a new survey by BNP Paribas Securities Services has revealed. 84 percent of the 135 institutional asset owners and managers surveyed in Asia Pacific are currently integrating ESG factors into their investment decisions.

Shifting Perceptions: ESG, Credit Risk and Ratings

This report is the first in a three-part series by the Principles for Responsible Investment (PRI) on its initiative to enhance the systematic and transparent consideration of ESG issues in the assessment of the creditworthiness of borrowers in fixed income markets. Click the link to download a copy of the report from the PRI website.

United States & Europe

United States

Oil Snaps Rally; Stocks, Steady After Fed Minutes

Oil prices fell sharply on Wednesday after their longest rally in more than five years while stocks ended higher after minutes from the U.S. Federal Reserve’s last meeting showed contrasting opinions.

US Jobs Growth Faster than Expected

The economy added 222,000 jobs in June, the US Department of Labor said, and job creation in April and May was higher than previously estimated.

Europe

Ahead of G20 Summit: ‘My Country First’ Approach Threatens Achievement of Global Goals

Ahead of the G20 meeting in Hamburg, the newly published SDG Index and Dashboards Report 2017 illustrates that world leaders need to strengthen their joint efforts to realize the global goals. Not only does a rising trend of nationalism and protectionism impede the implementation of the goals, but as the report shows, industrialized countries are not serving as role models.

Developing Economies

Implementation and Effects of the G20 Financial Regulatory Reforms

This report acts as a status update for progress on the G20’s program of reforms implemented to increase the resilience of the global financial system while preserving its open and integrated structure.

Africa

Why These Investors are Focusing on Impact Investing Across Africa

In this episode of the MoneyMakers Bruce Whitfield speaks to Brendan Mullen, Managing Director of Secha Capital and Nombuso Nkambule, Co-founder to discuss how it is identifying long-term opportunities for improvement and growth.

World Bank Approves $345 Million Loan for Tanzania Port Expansion

The port handled 13.8 million metric ton in 2016 – an increase from 10.4 million in 2011, reflecting an average growth of 9 percent per year, according to the bank. Tanzania wants to lift its capacity to 28 million metric tons a year by 2020.

Latin America

PERU: Annual Inflation Rate Decreases to Lowest Level in Almost Three Years

The annual consumer price inflation in Peru decreased in June to the lowest level in almost three years and is nearing the center of the current target range of 1% to 3% set by the local central bank.

Latin America is Going Through an Energy Transformation, and It Could Be a Huge Benefit to the US

This article details recent shifts in the Latin American energy market which could affect the demand for US energy.

Amid Crisis, Brazilian Impact Investors are Resilient and Optimistic (Podcast)

ImpactAlpha’s David Bank interviewed Fernando Scodro of Grupo Baoba, who next week is launching the Brazilian chapter of The ImPact, a network of wealthy families that have come together to make more impact investments, more effectively.

Weekly Impact Investment Market Update: June 2, 2017

Posted on by MBC Strategic

Impact Investing & ESG

Impact Investing

How the Ford Foundation Is Raising the Stakes on Impact Investing

This interview with Xavier Briggs, Ford Foundation’s VP of Economic Opportunity and Markets, discusses the foundation’s investment strategy, including its criteria for selecting impact funds in which they invest.

Sorting Out Impact Investing in a Changing Market

In this interview, Robert Webster, Managing director at Small Enterprise Assistance Funds (SEAF), discusses his perspective on impact investing, the relationship between impact and financial returns, and how his group selects SMEs in emerging markets to invest in.

Why Impact Investing Has Reached a Tipping Point

$25 trillion is invested with consideration to ESG factors; from 2014 to 2016, sustainable, responsible, and impact assets have grown by 33% in the United States. For impact investing to go mainstream, the gap between interest and execution must be bridged; in 2016, 58% of respondents indicated interest in impact investing products, while far fewer were actually investing in the products.

How Impact Investors Can Change the Status Quo for Smallholder Farmers

2.5 billion people living on less than $4 per day are dependent on smallholder farming; to remedy this, investments can be made in emerging inclusive outgrower schemes, eco-friendly commercial farms, specialized input and extension service providers, and direct-trade importer businesses.

Road Work Ahead: Smoothing the Flow of Impact Investing with Lane Markers and Turn Signals

As more investors join the market for impact investing, impact intermediaries will need to bring greater clarity to the array of services they offer.

Opportunities for Investing in Inclusive Growth

Morgan Stanley’s Institute for Sustainable Investing has created a report and an analytical tool for investors to explore different opportunities for inclusive growth investment.

ESG

Withdrawal from Paris Accord Will Spur Interest in ESG, Advisers Say

If government regulations regarding environmental responsibility are reduced, investors will have a bigger role to play in advocating for improved environmental practices.

United States and Europe

United States

Oil Slides as U.S. Climate Withdrawal Compounds Glut Concerns

The President’s withdrawal from the Paris agreement could mean that the United States’ oil production could expand more quickly than its current rate; as of the end of May, U.S. crude oil production has increased by 500,000 barrels per day (bpd) from last year’s rates, reaching 9.34 million bpd.

U.S. Department of Energy Authorizes Additional Liquefied Natural Gas Exports from an Offshore Project

Exports reaching 1.8 billion cubic feet per day of natural gas from a Louisiana natural gas terminal in the Gulf of Mexico have been approved, causing the U.S. to progress further into becoming a net exporter of natural gas.

US Adds Fewer Jobs than Expected

At 4.3% as of May, US unemployment is at its lowest since 2001; however, only 138,000 jobs were created that month, which is 40,000 less than economists had expected.

Europe

Brighter Skies over Eurozone as Growth and Employment Pick Up

Overall unemployment for the European Union is at its lowest in eight years, while economic growth was at 0.5% in the first quarter. The EU projects a total 2017 growth of 1.7%, compared to 2016’s growth of 1.8%.

 

Emerging Markets

Latin America

World Bank Planning $2 bln Green Bonds for Peru – Econ Minister

While Peru has yet to develop a reforestation industry, the IFC is preparing to do an emission of approximately $2 billion in green bonds.

Nestle Investing in Factories, Creating 2,900 Jobs in Latin America

The company looks to tackle social issues in one of its strongest markets, creating 2,900 jobs for young people and providing training for improving job-hunting skills over the next three years.

Colombia’s Peace Agreement Can Give Fillip to Inclusive Growth

The IMF projects growth to increase gradually over the next five years, with approximately 3.5% growth. This will be sustained by non-commodity exports, infrastructure spending, and improved confidence stemming from the peace agreement.

Asia

Rural India Needs Solar Power for More than Just Lighting, Study Finds

While India plans on adding 10,000 small scale solar power grids across the nation over five years, India still needs more energy to help launch new businesses, increase time spent working or studying, or make any substantial quality of life improvements.

Africa

Kenya Inaugurates Chinese-Built Railway Linking Port to Capital

The $3.2 billion railway is its biggest infrastructure project in 50 years, and was completed months ahead of schedule. The railway is part of China’s “One Belt, One Road” initiative which seeks to improve land and maritime trade routes between China and Europe, Asia, and Africa.

OPEC Oil Output Rises in May as Cut-Exempt Nigeria, Libya Pump More

Decreased output in Angola and Iraq helped OPEC adhere to its six month supply cut deal, but after sustained output increases from Libya and Nigeria OPEC will prolong its deal until March 2018.

Weekly Impact Investment Market Update: May 29, 2017

Posted on by MBC Strategic

Impact Investing & ESG

Gitterman Says ESG Plays Well on Campus

Gitterman is working with 5,000 college professors to build ESG portfolios, in total valuing approximately $450 million in assets.

Demand for Responsible Investment Pushing Up the Value Chain

As the subject of impact investment has joined the mainstream, clients have increasingly started demanding better disclosures on responsible investment practices.

Unpacking Impact Investing – An Emerging Asset Class

In this interview, Kate Kohler, co leader of Korn Ferry’s Impact Investing Practice, notes that impact investing attracts both highly value-aligned under-30-year-olds, and accomplished financial and investment professionals seeking more fulfilment than what they obtain from ordinary investing.

Nestle Waters North America Announces $6 Million Investment in Closed Loop Fund

This contribution will join the $100 million social impact investment fund, which seeks to find a national solution to the gap in recycling infrastructure and programs in U.S. cities.

Investors See Tangible Returns in ESG Integration

Over two thirds of 475 surveyed institutional investors noted an increase in returns once ESG criteria were integrated into decision making processes.

United States and Europe

Boom Time Again for U.S. Oil Industry, Thanks to OPEC

After the price of oil dropped in 2015 and 2016, OPEC and Russia’s decision to cut their oil production helped push the price of oil back up. As a result, today there are twice as many U.S. oil rigs as there were this time last year.

Consumers Energy Investing Nearly $440 Million to Enhance Safety, Reliability of Natural Gas System

$75 million will be spent to complete 40 improvement projects and replace 67 miles of pipe in southern Michigan; $120 million will go to expansions, improvements, construction, and capacity increases for the natural gas system; and $183 million will go to improvements for pipeline integrity.

US Growth Rate Revised Up to 1.2%

The US economy grew at a faster pace than initially thought in the first three months of the year.

Michigan Good Food Fund Tops $10.5 Million Milestone in Statewide Good Food Investments

The fund provided financing to six food enterprises, which will boost job creation and healthy food access in underserved Michigan communities.

Emerging Markets

South Africa’s Western Cape Declares Drought Disaster

After experiencing the worst shortage in 113 years, water will now be harvested by drilling boreholes to serve key points in the region; over 40 million people have been affected.

Emerging Markets Remain a Good Bet and are Under Owned Despite Strong Gains: Deutsche

As U.S. interest rates rise, investors are looking overseas to generate returns; emerging markets are experiencing high real rates, positive growth, and consistent returns, and are expected to maintain their status as a worthwhile investment destination for at least the next three years.

Incoming Ecuador President Moreno Names Finance, Oil Ministers

The new finance minister is tasked with solving Ecuador’s large fiscal deficit, while the new oil minister must help the nation recover from low oil prices.

Asia Stocks Higher; South Korea Share Soar as Interest Rates Hold Steady

The increase and subsequent gains are the result of the nation’s central bank holding interest rates at a record low, in a vote of confidence in the economy.

Weekly Impact Investment Market Update: May 19, 2017

Posted on by MBC Strategic

Impact Investing & ESG
 

Fidelity Launches Two ESG Index Funds

Their new domestic fund is based on the MSCI USA ESG Index, while the international fund is based on the MSCI All Country World Index. Both follow large- and mid-cap companies with high ESG performance relative to sector peers in their respective markets.

Growth-Market Private Equity Investors Look to 2030 Global Goals for Direction

The 17 Sustainable Development Goals focus on “do no harm” investment approaches and represent up to $12 trillion in revenues and savings by 2030.

Public Policy and Investments in Quality Jobs

This document is the second installment of an exploration of the capacity of the impact investing industry, business owners, and policymakers to support job creation. This installment focuses on how public policy can direct capital to quality job-making businesses, and what changes can be made to encourage further job creation.

Annual Impact Investor Survey 2017

The Global Impact Investing Network released their annual survey on the activities of 209 leading impact organizations, presenting investors’ perspectives on current issues and market topics in the impact investment industry.

The OECD’s View on Integration of ESG Issues into Investments – What Next?

The OECD published a report in early May which had various findings: that strong regulatory frameworks can incentivize investors to include ESG factors into their investment governance where they are consistent with financial obligations; that ESG factors can influence investment returns through their impact on companies’ financial performance; and that while ESG related portfolio risks are difficult to measure, tools are being developed to remedy this issue.

Morgan Stanley Investment Management Raises More Than $125 Million for its First Global Impact Fund

The PMF Integro Fund I gives investors exposure to a diverse portfolio which seeks to maximize commercial returns while accomplishing various impact objectives in under served populations.

Five Things to Know About the Social (Impact) Scene in Asia

The CEO of the Asian Venture Philanthropy Network highlighted five themes in the Asian impact industry, including: that momentum is building for investment in social businesses, with successes like Korean startup Tree Planet paving the way; that interest in themes like education and health needs to increase; and that local laws need to evolve to pave the way for social purposes merging with financial objectives.

 

United States and Europe
 

Trump Crisis Mushrooms on Russia-Probe Report, “Nut Job” Remark

While a senior White House adviser close to President Trump has been identified as a “person of interest” in the federal investigation of Russian collusion, the President is traveling to Saudi Arabia; with this visit he hopes to unify Muslim, Jewish, and Christian leaders against extremism, and to reestablish the U.S. as a global leader.

Macron in Mali: France Will Be “Uncompromising” in Fight Against Terrorists

New French President Macron has reaffirmed the nation’s commitment to fight against Islamic terrorists in Mali. In an attempt to strengthen ties and improve security in the West African country, Macron has met with German Chancellor Angela Merkel in Berlin.

Global Cyber-Attack: Security Blogger Halts Ransomware “By Accident”

The spread of the malware, which was designed to lock users’ data until a ransom was paid, has been halted after a UK security researcher registered an unregistered web address connected to the malware. Existing infected computers are still affected, but the researcher’s registration of the web address activated the “kill switch”, preventing the malware from spreading to any new devices.

 

Emerging Markets
 

Apartheid Still Casts Shadow Over South Africa Agriculture

Despite major segregation legislation for land ownership being repealed, there is still a large disparity in the proportion of white and black farmers who own land in South Africa. The head of the Agri SA cooperative, Omri Van Zyl, asserts that this disparity must be addressed to prevent the nation becoming food insecure in the future.

Mutual Funds Get Crushed by Brazil

Amid accusations that implicate the Brazil President Michel Temer in bribery, mutual funds with large holdings of Brazilian assets have seen huge losses; for example, the Fidelity Latin America Fund’s value dropped 12 percent on Thursday alone.

Argentina and China Sign Contract for Two Reactors

A general contract was signed between Nucleoeléctrica Argentina SA, China National Nuclear Corporation, and China Zhongyuan Engineering Corporation; the agreement affirms that China will contribute 85% of the required financing for the construction of two new power plants in Argentina, as first agreed upon in November 2015.

One-Third of Asia’s Wealth May Change Hands in the Next Five Years

The younger Asian economies will see their “first-ever major inter-generational wealth transfer”; as 90 percent of billionaire fortunes don’t survive longer than two generations, this shift creates a need for more family offices in these economies.

Indonesia, China Consortium Sign 45 bln Loan for Rail Project

The loan from China Development Bank will cover 75% of total costs to build the country’s first fast-train rail link connecting Indonesia’s capital, Jakarta, to its textile hub in Bandung.