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Alternative Market Briefing

Investors and managers focus on inclusive capitalism at SALT

Thursday, May 09, 2019

Bailey McCann, Opalesque New York:

Growing concerns over wealth inequality and environmental sustainability topped the list of hot topics at this year's SALT Conference currently underway in New York. Many investors and managers spoke of creating a more inclusive capitalism from the stage.

Nuveen CIO Jose Minaya and Lady Lynn Forester de Rothschild, CEO of E.L. Rothschild kicked off the first day of the conference with a focus on ESG and finding solutions to lessen the wealth gap. "The power of markets is incredible," Lady de Rothschild said. "We can make things better through a strong, sustainable and inclusive capitalism."

Nuveen's Minaya added that there may be a monetary incentive for money managers to get on board with ESG and inclusion. "Millennial investors are refusing to invest with managers if they don't share their values," he said. Minaya emphasized the need to look at ESG and inclusion as a means of identifying risk areas as well as ways to improve. He said the key to a successful approach is bringing in more data to help measure ESG factors and also being very transparent about how the data is managed and factors are considered. "It's not just about being exclusionary any more," Minaya said, adding that eventually all investments will be considered through an ESG lens.

Still, panelists were quick to point out that there are no unified ESG or inclusion standards and recognized the need to continue working toward a framework that is......................

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