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A Responsible Investments Advisory Committee

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on 7 May 2010

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Transcript of A Responsible Investments Advisory Committee

A Sustainable Investing Advisory Committee How Does AC Make Investments? Towards a Greener Endowment Capital Investment, Equipment,
and Facilities Maintenance environmental impact is
evaluated on a case by case
basis Endowment Asset Allocation End of Fiscal Year 2008-2009 The Committee on finance and Investment Composed of 6 college Trustees working with the advice of an outside financial consultant
Recieves inputs form other departments of the school through the office of the president and vice-presidents
Develops investing policy to support spending policy

Who manages endowment assets? Where Would an Advisory Committee Fit In? Finance and Investments Committee votes on individual management issues Office of the president and Business office works with other parts of the school to coordinate endowment earnings with school spending Sustainable investing advisory committee (proposed) makes edowment allocation info available to campus community and coordinates evaluations of environmental impact
Works with President and Business Office to develop sustainable alternatives that support school spending policy Advisory Committee Composition Amherst College as Model 5 students - Chair of committe is a student
2 faculty members - possibly 1 environmental studies and 1 economics
2 alumni - expertise in sustainability and investing
2 administrators - to coordinate with college spending
1 trustee from Finance and Investments committe (Non-voting)

Tasks of the Advisory Committee Develops sustainable Investment Strategy alternatives Oil and Gas example Advocates Proxy Voting and Creates Shareholder innitiatives With input from the campus community, advocates certain positions in proxy votes
creates sustainable innitiatives for submission to invested firms or fund managers Advocates Sustainable Funds Searches for "green" mutual funds with equivalent earnings Communicates between Finance and Investments Committee and Campus Community Manages list of investments accessible to campus community
Notifies community of upcoming investment decisions Total Value: $109, 374,334 Domestic
Ethical 9.81 13.11 0.16 48 1.24 20
Conventional 9.58 13.64 0.14 176 1.19 300
FT-All 10.95 14.22 0.22
Ethical 8.92 15.16 0.08 89 1.49 12
Conventional 8.18 14.74 0.03 107 1.33 96
MSCI World 8.52 15.99 0.05 Table 2: Summary Statistics on Mutual Funds 1990:01 - 2001:03 Return Standard Sharpe Size Expense # of
Deviation Ratio Ratio Funds R Bauer, K Koedijk, R Otten. International Evidence on ethical mutual fund performance and investment style - Journal of Banking Finance, 2005 Long term Stability of Green Investing
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