Funds with a particular focus on social impact have grown significantly in recent years
at the University of Minnesota oversees $47mn in capital split between a fixed income and an equity-based growth fund, with money contributed by external institutions and a small share of the university’s own endowment.
Katherine Baird, associate director for sustainability, at Haas says: “We have really seen that, through careful asset allocation and understanding of risk, students can achieve equivalent or better than market returns.” However, Lloyd Kurtz, senior portfolio manager at Wells Fargo Wealth and Investment Management, remains cautious over student funds. “I’m personally a little sceptical,” he says. “There are a lot of vanity projects. It’s great to get out and learn some respect for the markets. You can teach kids the basics about investing but there’s a level of reality below that. I’m worried we’re not looking hard enough at the complexities of the world, systemic analysis, labour contracts and externalities.
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