Several fund managers are making a new bet that — at long last — investing in sustainability, fair trade and other socially conscious buzzwords will finally pay off.
"Incorporating sustainability metrics is no longer just a nice-to-have, or something to help you sleep at night. It's sound investment sense," Michael Baldinger, head of sustainable and impact investing at UBS Asset Management, said in a statement early last month. UBS created the role last summer, and the firm published a white paper in January on such investing.
For years, socially conscious investing tactics haven't seemed to work. Returns on such funds have generally only managed to match benchmark indexes, while typically charging higher management fees.