Ray Dalio’s firm, which oversees $140 billion of assets, plans to open two sustainable funds in 2021. Bridgewater started advising clients this year on how to manage investments to meet both societal and financial goals. The effort is being overseen by senior investment executive Carsten Stendevad, Chief Operating Officer Brian Kreiter and Karen Karniol-Tambour, director of investment research.
“There are big shifts afoot in the industry where we’re seeing an expansion of investment objectives from risk and return to including impact,” Stendevad said in a telephone interview. “Sustainable investing is the top strategic agenda in the industry.”
Investments that are both socially and financially rewarding are surging in popularity as investors seek to address issues such as income inequality and global warming. Hedge funds including Two Sigma and TCI Fund Management have in the past year started investments that are tied to meeting societal goals.