This article appears in the June 2021 issue of Advisor’s Edge
The past year has not been business as usual.
I’m writing this less than a week after Daunte Wright was killed by police in a Minneapolis suburb, mere miles from where George Floyd was murdered in 2020. And barely a month has gone by since a shooter killed six Asian women in Atlanta amid surging anti-Asian attacks in both Canada and the U.S.
To some, these events represent lowlights in an unrelentingly horrible news cycle. But to others clients, colleagues, community members these events prompt visceral, personal reactions of anger, sadness and trauma.
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Canadian asset managers are targeting boutique firms with environmental, social and governance (ESG) expertise to meet growing investor demand for responsible investing products.
In December, Toronto-based Mackenzie Financial Corp. acquired Greenchip Financial Corp., a 14-year-old investment firm that focused exclusively on the environmental economy. Greenchip has been subadvisor for the Mackenzie Global Environmental Equity Fund since 2018 and manages the equities portion of an environmentally focused global balanced fund Mackenzie launched in April.
“[Greenchip] brought a certain style and value orientation to environmental investing that we didn’t have across our organization,” said Fate Saghir, head of sustainable, responsible and impact investing with Mackenzie Investments in Toronto. She added that Greenchip has a “capability and a conviction [to environmental investing] that we wanted to bring in-house.”
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