Nicole Torrico

  • published Randall Strickland in Steering Committee 2020-09-25 10:08:26 -0400

    Randall Strickland

    Randall Strickland, Director and Investment Advisor, Cornerstone Capital Group

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  • published Neda Nobari in Steering Committee 2020-09-25 10:03:11 -0400

    Neda Nobari

    Neda Nobari, Vice Chair of the Foundation Board, San Francisco State University

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  • published Libby George in Steering Committee 2020-09-25 09:59:18 -0400

    Libby George

    Libby George, Director of Investments, North Carolina State University

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  • published Tim Coffin in Steering Committee 2020-09-25 09:46:10 -0400

    Tim Coffin

    Tim Coffin, Senior Vice President, Breckinridge Capital Advisors

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  • published Brandi Colander in Steering Committee 2020-09-25 09:42:23 -0400

    Brandi Colander

    Brandi Colander, Principal, Diverse Asset Managers Initiative

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  • published Valerie Red-Horse Mohl in Board Members 2020-09-08 16:34:54 -0400

    Valerie Red-Horse Mohl

    Valerie Red-Horse Mohl, Founder and CEO, Red-Horse Financial Group, Inc.

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  • published Dianne Dillon-Ridgley in Board Members 2020-09-08 16:34:11 -0400

    Dianne Dillon-Ridgley

    Dianne Dillon-Ridgley

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  • published Endowment 101 Webinar in Past Webinars 2020-08-19 13:11:06 -0400

    IEN Webinar: Endowment 101

    Date: August 26th, 2020 

     

     

    Geared toward college and university stakeholders including students, faculty, alumni, staff, and board members, this webinar will clarify the role endowments play in higher education and how their investment strategies and processes evolve from that role.  

     

    The webinar will describe the landscape of higher education endowments and how the size of an endowment impacts investment decisions and the decision-makers involved. Panelists will also cover how endowment distributions are used, the importance of balancing return expectations and volatility as they relate to both the long term investment horizon for the endowment and annual spending requirements, sources of donations and restrictions placed on the use of donations by donors, and asset allocation and its drivers. Finally, presenters will discuss how sustainable investing (ESG, impact investing, divestment strategies, etc.) fits into this context and how to move the conversation about sustainable investing forward with endowment professionals on your campus.

     

    The webinar will be followed by a virtual roundtable discussion (Date TBA) in the fall to allow time to probe more deeply into your specific questions.

     

    Presenters:

     

    Jeff Mindlin, Vice President of Investments, Arizona State University Enterprise Partners

     

     

     

    Liz Clark, Vice President for Policy and Research, National Association of College and University Business Officers (NACUBO)

     

     

     

     

    Ken Redd, Senior Director for Research and Policy Analysis, National Association of College and University Business Officers (NACUBO)

     

     

     

    Randall StricklandDirector and Investment Advisor, Cornerstone Capital Group

     

     

     

    Moderator: Alice DonnaSelva, Managing Director, Intentional Endowments Network

     

     

     

     


  • published Randall Strickland in Steering Committee 2020-08-19 13:07:50 -0400

    Randall Strickland

    Randall Strickland, Director and Investment Advisor, Cornerstone Capital Group

    Randall is a Director for Cornerstone Capital Group, a financial services firm offering investment advisory, thematic research, and strategic consulting services to endowments and family offices in the field of Sustainable/Impact Investment. He is responsible for supporting the firm's investment advisory clients in the areas of investment policy planning, environmental, social and governance (ESG) and impact investment integration, investment manager and strategy selection, and impact measurement. He brings over 25 years of experience in the asset management arena.  Randall also serves as an Adjunct Professor in the Sustainable MBA program at Bard College and the Gabelli School of Business at Fordham University, teaching Sustainable Finance and Impact Investing.

    Prior to joining Cornerstone, Randall served as a Sustainable Investment Specialist at Sentinel Investments, where he was a member of the firm’s sustainable investment team. Randall’s experience also includes senior positions at City National Bank of New Jersey, ImpactAssets, Principal Global Investors, Commonfund and TIAA.  He serves on the board of Net Impact, the HBCU Green Fund, and the Global Leadership and Achievement Foundation of Kappa Alpha Psi, Jersey City (NJ) Alumni Chapter.  He earned a Bachelor of Science from Cornell University and a Master of Arts from New York University.

     

     


  • published Ken Redd in Guest Speakers 2020-08-19 10:37:23 -0400

    Ken Redd

    Ken Redd, Senior Director, Research and Policy Analysis, National Association of College and University Business Officers (NACUBO)

    Kenneth E. Redd is Senior Director, Research and Policy Analysis for the National Association of College and University Business Officers (NACUBO). At NACUBO, Ken manages the annual NACUBO-TIAA Study of Endowments, the NACUBO Tuition Discounting Study, and other research reports on higher education finance, enrollment, and student financial aid issues. He came to NACUBO in 2008 from the Council of Graduate Schools, where he was director of research and policy analysis.

    In addition to his work at NACUBO, Ken also serves on the board of trustees for the Meadville Lombard Theological School in Chicago, IL, and the board of advisors for the Frank J. Batten School of Leadership and Public Policy, University of Virginia. Ken is also a member of the investment committee of the Unitarian Universalist Common Endowment Fund (UUCEF), and is a member of the board of directors for the National Association for College Admission Counseling (NACAC).


    Ken has a master’s degree in public affairs from the Hubert H. Humphrey School of Public Affairs, University of Minnesota, and a bachelor’s degree in English and political science from Tufts University, Medford, MA.

     

     


  • published Liz Clark in Guest Speakers 2020-08-19 10:26:43 -0400

    Liz Clark

    Liz Clark, Vice President for Policy and Research, National Association of College and University Business Officers (NACUBO)

    Liz LaPolt Clark is Vice President for Policy and Research at the National Association of College and University Business Officers (NACUBO), a membership organization representing more than 1,900 colleges and universities across the country. Liz leads the team responsible for analysis of federal regulatory and legislative actions, research, and communications at NACUBO. She has been widely quoted in the press and is a sought-after speaker on how Washington politics and federal policies impact higher education. Liz got her start on Capitol Hill in 1999, running Cornell University's first Washington, DC-based federal relations office, and in her career has led federal affairs for the State University of New York (SUNY) System and for Oregon State University.

    A native of Liberty, NY, Liz is a graduate of Binghamton University (SUNY) and received a Master’s degree from Cornell University.

     

     


  • University of California, Berkeley Students Win First-of-Its-Kind Corporate Engagement Competition

    Over the past academic year, student teams from across the U.S. participated in a first-of-its-kind student investment competition hosted by the Intentional Endowments Network (IEN). A panel of judges selected the team from the University of California, Berkeley as the inaugural winners of the SIILK Corporate Engagement Competition, for preparing the strongest investment recommendation and shareholder engagement strategy to improve company performance (and investment returns) through better environmental, social, and governance (ESG) practices.

    “The competition gave us an opportunity to think about strategies for engaging with management and practice crafting a shareholder resolution,” said Katharine Hawthorne, a member of the winning team. “Highlights of the competition included learning how the other teams integrated financial and ESG considerations and seeing the different approaches to shareholder engagement for driving corporate sustainability.

    The pilot year of this competition put a new spin on the traditional approach to investment competitions by focusing on the responsibility of investors to directly engage company management on the risks and opportunities they see. IEN invited students to not only produce an investment recommendation in a publicly traded company, but also to include in their recommendation a shareholder engagement strategy for improving the company’s business performance and impact on society. Teams from four universities - Arizona State University, Bryant University, Yale University, and the winning team from the University of California, Berkeley - participated in the competition as a real-world introduction to sustainable investing.

    “We launched this competition to bring more awareness to the immense opportunity to create impact through shareholder engagement in public equity investments. The scale and influence of such a mainstream asset class makes it tremendously important for students interested in entering the investment field to be able to spot opportunities to actively engage as shareholders,” said Nicole Torrico, a Program Manager at the Intentional Endowments Network.  “By growing this skill set, students now and in their future careers will be able to achieve positive impact at scale while improving the financial performance of their investments.” 

    Each student team worked throughout the year to write an investment recommendation that included an investment thesis, financial model and valuation, quantitative ESG research and analysis, market and sector analysis with comparison to industry peers, risk identification, and a proposed shareholder engagement strategy to address an identified risk area.

    While each team’s written recommendation was impressive, the judges noted that identifying a company with financial growth potential that is well positioned for ESG opportunity, not just risk management --  and focusing on SASB as a framework for ESG analysis -- made the University of California, Berkeley’s investment recommendation stand out as exceptional. Additionally, focusing on a company that is smaller in size and at the beginning of its ESG journey provides an opportunity for more significant and impactful shareholder influence. IEN released a video announcing the winning team here.

    “I was very glad to participate in the inaugural competition, and was blown away by the shareholder engagement recommendations in particular,” said Gabe Rissman, co-founder and president of YourStake.org, and one of the competition judges. “ The student teams presented engagement theses that will create positive societal impact and enhance shareholder value. Corporate management should listen closely.”

    Shareholder engagement has become a greater area of focus for IEN. In addition to hosting this competition, over the past year, IEN re-launched a shareholder engagement working group and collaborated with Warren Wilson College on an engagement strategy that resulted in the co-filing of 3 shareholder resolutions by the college. “Increasingly, college and universities are interested in dialogue, engagement, and proxy voting as a means of effecting more forward thinking company strategy around the climate and inequality challenges we face,” said Alice DonnaSelva, Managing Director of the Intentional Endowments Network.

    This competition is part of the ongoing programming efforts of IEN’s SIILK Network, a peer learning network of students, faculty, and staff involved with student-managed investment funds and finance curriculum focused on sustainable, ESG, and impact investing. SIILK members connect to scale the uptake of sustainable investing education at colleges and universities across the country, build strong bridges between endowment investing and student-managed funds, and grow the talent pipeline, with an emphasis on bringing more women and people of color into the industry. 

    For more information, visit SIILKnetwork.org or contact Nicole Torrico at nicole@intentionalendowments.org.


  • published TIFF Investment Management in Organizations 2019-12-16 12:32:42 -0500

    TIFF Investment Management

    Founded as The Investment Fund for Foundations in 1991 by a network of foundations with the express purpose of serving the investment needs of the non-profit community. As of March 31, 2017, TIFF served around 550 non-profit members who entrust about $7.0 billion in assets, including committed capital, to the firm. TIFF now serves foundations, endowments, and other charitable organizations. 

    TIFF's mission is to seek to enhance the investment returns of non-profit organizations, to reduce the investment and administrative expenses of non-profit organizations, to broaden the universe of investment choices available to non-profit organizations, to assist non-profit organizations in deploying their assets in a manner that will support charitable expenditures while preserving the purchasing power of their assets, to help non-profit organizations monitor and evaluate their investment performance, and to promote within the non-profit community an understanding of investment management.

    https://www.tiff.org/

    TIFF Insights: TIFF's Commitment to Sustainable Investing, Chris Matteini Fall 2020

     


  • published Past IEN Webinars in Events & Webinars 2019-03-18 10:29:16 -0400

    Past IEN Webinars

    To view recordings from past IEN webinars, click here.

    WHEN
    March 20, 2050 at 6pm
    rsvp

  • Weekly News Round-Up: June 22nd, 2018

     
    Weekly News Round-Up: June 22nd, 2018

    Below please find this week's news round-up.

    Have a great weekend,

    Nicole

    Program Manager
    The Intentional Endowments Network

     
    New Resources

    2018 Information & Communications Technology Benchmark l Know The Chain

    • The 40 ICT companies were assessed across the benchmark's seven themes, which were developed to capture the key areas where companies need to take action to eradicate forced labor from their supply chains: commitment; traceability and risk assessment; purchasing practices; recruitment; worker voice; monitoring; and remedy. There are a total of 23 indicators across the seven themes. For each theme, a company can score a total of 100 points.

    Underwater: Rising Seas, Chronic Floods, and the Implications for US Coastal Real Estate l Union of Concerned Scientists

    • This analysis looks at what's at risk for US coastal real estate from sea level rise—and the challenges and choices we face now and in the decades to come. 

    New Energy Outlook 2018 l Bloomberg New Energy Finance

    • Focused on the electricity system, BNEF's New Energy Outlook (NEO) is an annual long-term economic analysis of the world’s power sector out to 2050. NEO combines the expertise of over 65 market and technology specialists in 12 countries to provide a unique view of how the market will evolve. 
     
    Sustainable Investing at Endowments & Foundations 

    UK Pension Funds Get Green Light to Dump Fossil Fuel Investments l The Guardian

    • Managers of the £1.5tn invested in Britain’s workplace pension schemes are to be given new powers to dump shares in oil, gas and coal companies in favor of long-term investment in green and “social impact” opportunities. Government proposals published on Monday are designed to give pension fund trustees more confidence to divest from environmentally damaging fossil fuels and put their cash in green alternatives if it meets their members’ wishes. 
     
    Sustainable, Responsible, Impact & ESG Investing

    Bloomberg Brief l Sustainable Finance

    • This week's Bloomberg Brief highlights how batteries will attract $548 billion in investment by 2050, Bloomberg New Energy Finance said; Climate change is already hitting housing prices; Procter & Gamble pledged to hire more female directors for its commercials; Institutional investors are working to implement socially responsible strategies across their portfolios says Morgan Stanley's Rui DeFiguerdo.

    84% of Investors Apply or Are Considering, ESG – Morgan Stanley l Pensions & Investments

    • Eighty-four percent of asset owners globally are pursuing or considering ESG investing, said a survey released Monday by the Morgan Stanley Institute for Sustainable Investing and Morgan Stanley Investment Management. Among the 70% of owners who already are incorporating environmental, social and governance factors into their investment decisions, 60% began doing so in the past four years and 37% within the past two years.

    68% of Institutional Investors Say Responsible Investing is Important – Aon Survey l Pensions & Investments

    • Sixty-eight percent of institutional investors globally consider responsible investing important to their organization to some degree, said an Aon Hewitt Investment Consulting survey released Tuesday. A belief that incorporating ESG factors resulted in better investment decisions was cited as the most popular reason for ESG integration (39% of investors), followed by a desire to impact global issues (26%).

    Ixo Foundation Brings Blockchain and Impact Investing Close Together l Hedge Week

    • This article highlights a new foundation focused on using a blockchain protocol to track and measure impact investing has been created by Dr. Shaun Conway, a medical doctor and former adviser to the World Health Organisation.

    Investing Sustainably Without Compromising Performance l Barron's

    • In this Q&A article, Matt Patsky, CEO of Trillium Asset Management, discusses sustainable and impact investing—or investing with measurable social and environmental outcomes in addition to competitive financial returns—as well as recent Department of Labor guidance that said “fiduciaries of ERISA-covered plans must avoid too readily treating ESG issues as being economically relevant to any particular investment choice.” 

    Allianz GI Vice-Chair Calls for a Common Language Around Impact Investing l Insurance Asset Risk

    • In this article, Elizabeth Corley, Allianz Global Investors (GI) vice-chair and former CEO, discusses how to combat the inertia, confusion, and skepticism around impact investing, stakeholders looking for financial returns and those interested in non-financial returns have to find a common language.
     
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