London (CNN Business)For some Catholic investors, it's no longer enough to do no harm. They want their money to help the world's poorest, and they've got the backing of Pope Francis. While Catholic investment funds have traditionally avoided businesses that are inconsistent with church teachings, there's a growing movement towards "impact investments" that actively deliver a social good. Since 2014, the Vatican has held three impact investing conferences that were aimed at helping Catholic institutions understand how private capital can help the poor. One was held as recently as June. At the inaugural conference, Pope Francis called for "markets (to) serve the interests of peoples and the common good of humanity." His endorsement generated momentum across the faith towards impact investing, according to Beth Collins, managing director of impact investing at Catholic Relief Services (CRS). Read More The humanitarian agency helped organize the Vatican conferences, and Collins … [Read more...] about The Pope likes this kind of investing
This story was originally published December 18, 2017. (CNN Business)Making money is the lifeblood of Wall Street. Making the world a better place not so much. Now that's starting to change, as some of the biggest names in finance adjust their businesses to reflect growing demand for impact investments. "It's a $250 billion market and it's growing fast," said Michael Baldinger, a 30-year industry veteran who joined UBS (UBS) Asset Management as head of sustainable and impact investing -- a new role -- just over a year ago. "It might really be a game-changer for the finance industry." Banks and asset managers are thinking seriously about how to cater to investors who want a measurable social or environmental return on their investment as well as capital gains, stock dividends or interest payments. "In the past you sold products to your client, now you empower your client to create a desired impact," Baldinger said. "As an industry we've had to rethink everything we do -- impact and … [Read more...] about Impact investing: A $250 billion game-changer for finance
What do I need to do before the end of the year, to be ready for tax-time and whatever next year may bring? Even if performing a check-up on your investments isn't typically on your list of things to do before the end of the year, this is one year you don't want to skip. Markets have been unusually volatile and investors may be leery about the year ahead. The 2018 tax year will also mark the first year in which the tax reforms took effect. That means there are several variables and new factors to consider as you close out the year. Here are some important details to check in on before the end of the year. Reallocate and rebalance Read More With the market on a tear for the past nine years, many investors' portfolios have become stock heavy and may no longer reflect big picture goals, says Samuel Wieser, CEO and investment advisor for Northman Financial. Asset allocation is a significant driver of portfolio performance, he says, and periodic rebalancing is a critical part of … [Read more...] about A year-end checklist for your investments
James Gorman is chairman and CEO of Morgan Stanley. The opinions expressed in this commentary are his own. How good is a good business idea if you can't get it off the ground? It takes funding to turn a business idea into reality, and unfortunately today, a white man with a good business idea is more likely to get funding than a woman or a person of color. That means missed opportunities — for the entrepreneur who can't get funding, for the investors who could have earned a return, and for the innovation that drives our constantly changing markets for goods and services. Of the $85 billion venture capitalists invested in 2017, just 2.2% went to female founders who weren't working with a male counterpart, Pitchbook found. For women of color, that number drops to a negligible .02%. This funding gap represents a tremendous barrier to entry for far too many business owners, entrepreneurs and innovators who continue to struggle to access the capital they need to grow their … [Read more...] about Morgan Stanley CEO: This is the big investment opportunity we’re missing
(CNN)Last month the United Arab Emirates announced it would ease restrictions on foreign business ownership and residency rights in a move to increase investment and attract fresh talent. The changes -- expected to be implemented by the end of the year -- will allow full foreign control of businesses outside of economic free zones and long-term residency visas of up to 10 years for skilled professionals and students. It is the latest in a series of reforms by Gulf nations to diversify their economies and boost growth, as many try to decrease their reliance on oil. In 2016, Bahrain allowed 100% ownership to certain foreign companies, and in 2017 Saudi Arabia announced a plan for a green card-like program for expatriates and Qatar approved a law granting permanent residency to some skilled workers. New top global retail destination revealed for 2018 "The region is competitive, you need to stay ahead and move with the times," says Tim Fox, chief economist at Emirates NBD, one … [Read more...] about Who stands to benefit from the UAE’s visa and investment rules?