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Impact investing: ethics and outperformance

At Anthos Fund & Asset Management, impact investing has two goals: financial outperformance and making the world a better place.

At Anthos Fund & Asset Management (Anthos), impact investing has two goals: financial outperformance and making the world a better place. We believe the best way to achieve this is a multi-asset fund-of-funds approach, investing in stocks, private capital and green bonds. “We select specialist managers for different regions, asset classes and impact themes which are aligned with the UN Sustainable Development Goals. All managers are experts in their fields,” says Dimple Sahni, Managing Director Impact Fund Portfolios at Anthos. “Often, we provide them with anchor capital, and we are constantly engaged to make sure our investments develop as intended.”

Impact investing may seem like a new fad, but those with strong values, including the founders of Anthos - the Brenninkmeijer family entrepreneurs, were already investing in positive change long before global warming grew into a crisis and the UN presented the SDGs. They called their approach values-based investing and have practiced it for decades. Thus, as long-term impact investors, Anthos delivers a rare commodity in the ESG space – experience: “With so many new offerings claiming to be impact funds, experience helps to avoid falling victim to greenwashing or impact washing,” says Dimple Sahni.

More than negative screening

Impact investing at Anthos goes far beyond negative screening – where companies are excluded due to ESG deficits. It even goes beyond ESG integration, where additional risk analyses are performed to modify the portfolio setup based on a best-in-class approach. In our view, a proper impact portfolio should only invest in companies working actively to make the world a better place while earning money at the same time.

Examples include medical service providers in developing countries, independent media outlets in societies where free speech is restricted, venture capital providers for education, solar energy enablers, local banks fostering financial inclusion, fair trade financing organisations or banks financing small and medium enterprises in Africa and Asia. Anthos’ investments are also in line with many of the overarching goals of the SDGs, such as: No poverty (1), Gender equality (5) and Reduced inequalities (10), as well as very specific ones like: Good health and well-being (3), Quality education (4), Affordable and clean energy (7), Decent work and economic growth (8), Industry Innovation and infrastructure (9), Climate action (13), Life on land (15), and Peace, justice and strong institutions (16).  

“As the list shows, for us – and indeed for the UN – impact and sustainability mean more than just climate protection,” says Dimple Sahni. “The ‘E’ has become more important, not least for us, but other goals should not be neglected. In fact, we are convinced that fostering education and reducing poverty in developing countries will indirectly contribute to climate protection, for example by increased use of renewable energy.”

Alignment of interests

Equally important is an alignment of interests between the asset management company and its clients. For their impact funds, Anthos seeks like-minded institutional investors who share their values and understand the power of philanthropy. “We know from experience the importance of shared values between the client and the asset manager. At Anthos, we go even further, offering our clients the same fund and approach used to manage the money and pension funds of our owner’s group of companies,” Sahni concludes.

 

This is a marketing communication. Please refer to the Private Placement Memorandum of Anthos Fund II RAIF-SICAV S.A. ("PPM") before making any final investment decisions. The PPM may be provided upon request. Please note: these funds are open to professional investors only.