Newday Investing Brings Impact Investing to the Mainstream
New app enables consumers to invest in proprietary portfolios for social good with a $5 minimum
Newday Investing, a financial technology and institutional asset management company bringing socially responsible investing to the mainstream, announced recently the public opening of its platform and its availability in the iOS store [see full link below]. With just a $5 minimum, investors can choose among six proprietary, themed funds that are tailored to the causes investors identify with most.
Newday is the first and only mobile app offering a true asset allocation approach to impact investing based on modern portfolio theory, with personalized recommendations based on an investor’s interests. Each Newday Impact Portfolio is a unique and targeted investment strategy built to benefit a specific area of impact: global impact, climate change, gender equality, animal welfare, ocean health and freshwater. The investment team at Newday is led by Cara Barr, chief strategy officer and former director of investment strategy at BlackRock.
“Our mission is to make socially conscious investment solutions and education available to anyone and everyone, and our proprietary investment strategies are the linchpin of that commitment,” CEO Doug Heske explained. “Rather than simply being a distribution channel for off-the-shelf investment products, we wanted to demonstrate that it’s possible to offer affordable, accessible, specialized and institutional-grade portfolios that could achieve the same or better rate of return while putting money to work for good.”
The six proprietary funds available to investors at launch are:
• Global Impact: Companies with core businesses addressing social and environmental challenges in accord with United Nations Sustainable Development Goals.
• Climate Action: Companies operating at significantly reduced greenhouse gas emissions or developing technologies used to reduce greenhouse gas emissions.
• Gender Equality: Companies with employment policies offering similar benefits for family and caring responsibilities to women and men
• Animal Welfare: Companies considering animals’ well-being, including adequate housing, nutrition, disease prevention and treatment, responsible care and humane handling.
• Ocean Health: Companies that work for the protection and preservation of ecosystems in oceans and seas, such as restoring damaged marine ecosystems and preserving vulnerable species.
• Freshwater: Companies that lead their respective fields in maximizing water efficiency and are committed to combating pollution and ensuring affordable and equitable access to water resources.
Each portfolio will benefit a selected NGO partner, which will receive 5 percent of the portfolio’s management fees. Newday’s Global Impact Equity is partnering with Conservation International while the benefiting organization for the Ocean Health portfolio is the Lonely Whale Foundation.
“Creating a healthier, more prosperous planet is an urgent challenge requiring new and creative approaches,” said Anastasia Khoo, chief marketing officer of Conservation International. “We’re proud to partner with Newday to encourage investors at all levels to direct their investing dollars to companies that reflect their values.”
Dune Ives, executive director of Lonely Whale, said, “Lonely Whale is excited to see the potential impact that can arise from Newday’s Oceans portfolio. It is inspiring to see investors’ commitment to clean water, protecting marine life, and creating meaningful positive change for our planet.”
Newday Co-Founder and President Alex Meek said, “Our ultimate goal is to reallocate capital to better companies on a massive scale. By investing in socially responsible and sustainable companies, we can not only generate competitive returns but also change the way that people make their investment decisions.”
Newday’s board of advisors has deep financial services and sustainability expertise and includes:
• Wayne Osborne, CEO of a major Bay Area family office
• Nancy Heinen, former general counsel at Apple Computer for 17 years
• Wendy Harrington, former EVP and chief marketing officer at Franklin Templeton Investments
• Rich Moran, former president of Menlo College and partner at Venrock VC
• Mark Michael, former general counsel at 3Com
• Nathan Dungan, CEO of financial education company, Share Save Spend
• Mark McKee, president, Capital Alternatives Group and board member, Hall Capital Partners
Newday was founded in 2016 by Alexander Meek and Anthony Randazzo, who bring strong backgrounds in asset management and technology development, respectively. Doug Heske, CEO, brings more than 22 years of investment management leadership.
About Newday Investing
Based in San Francisco, Newday (www.newdayinvesting.com) is a technology-enabled asset manager that provides affordable, transparent and easy-to-understand impact investment solutions to the mass market. By investing in socially responsible and sustainable companies, Newday aims to generate competitive return and, most importantly, drive meaningful change in the way companies in our portfolios adopt environmental, social and governance (ESG) practices and policies. In order to be effective in driving positive impact on corporate behavior, Newday adopts an active ownership model, engaging with companies’ decisions as they affect their stakeholders including communities, employees and shareholders.
Newday App is available in the iOS store at-
itunes.apple.com/gb/app/newday-impact-investing/id1393310932?mt=8&ign-mpt=uo%3D2
SOURCE Newday Investing
Peter Ross
I can’t be the first to suggest imposed retail compliance to deal with both the discarded butts and packaging of cigarettes. The iconic red Marlboro box is both part of the problem and part of the solution particularly at points of sale. Namely legislation must be adopted that requires every pack of twenty cigarettes sold be considered legal only in exchange for an equivalent number of discarded and “weighed” butts, and always in combination with the empty package or crushproof Marlboro box of cigarettes to force smokers to collect their own butts in return for the right to a subsequent purchase and its legal transaction. The idea here is to force customers and retailers to deal with the stench, litter, and pollution of their own products. The key here is linking both the butts and the packaging together as a combination toxic issue and solution. Scavengers looking for butts on beaches as a solution is going to be unavoidable BUT to keep the exchange rate as close to 20:1 as possible requires the iconic packaging accompany the 20 would-be discarded butts, and let the retailers deal with their own part of the problem — it’s a pollution solution that is inseparable and belongs together. This will do far more to discourage cigarette smoking than probably anything else. Every cigarette legally sold must be elevated to a transaction that involves and requires an equivalent discarded butt, and for retailers within five miles and particularly walking distance of a beach, the exchange rate must double and requires two butts for every new cigarette sold — Up for referendum and legislation, I’d vote for it and the politicians who support it in a heartbeat.
Cliff Green
I absolutely agree, from plastic waste to cig butts, retailers and the companies behind the products should be made to pay for clean up costs. But really it is about people making better choices for themselves and for the environment. And some local legislation as well.