Izicwangciso ezizinzileyo ngoku ngokugqithiseleyo ngemali
Ngomdla okhulayo kwimali-mali engapheliyo, kukukubona ukujonga ukusebenza kakuhle kwezimali ezininzi zeemali ezilandelayo.
Ukuxhalabisa malunga nokutyalomali oluntu olujongene nokuxhaswa kwemali kunokwakheka ngokusekelwe kwimbali yokuhlola okungalunganga.
Ngokomzekelo, olu pho nonongo lwe-Wilshire Associates kwiingxelo zeBhiliyoni zeeDola ezilahlekelwe yiCalPERS ngokuhamba kwesikhathi ngenxa yokuhlukana kwamacandelo afana nocuba.
Imithetho yomsebenzi weFiduciary kunye nemibono yokushiya loo ntlawulo etafileni sele ikhokelela abaninzi ukuba bajonge ngenye indlela ekukhethiweyo kwezolimo.
Ngethamsanqa, ngelixa ixabiso liphezulu, utyalo-mali oluzinzileyo lwenzile nangakumbi ngemali.
I-S & P 500 yayiphakamise ngaphezu kwe-1% kwisigqibo sokuqala sonyaka ka-2016 kwaye iguquke kule mizuzu embalwa edlulileyo ukuba ibe ngaphantsi konyaka, okanye i-flat, okanye iphelile ngaphezu kwe-1.28%, kwaye nihlale nikhumbula oku phambi kokuba nayiphina imirhumo yolawulo isetyenziswe yiphina imenenja yemali okanye umthengisi.
Uluntu olona lukhulu olujongene neengxowa-mali ezizinzileyo eziqhubekayo e-US, ngokude, ngokwempahla, i-Parnassus Core Equity Fund ngoku ilawula ngaphezulu kwama-13B e-asethi, kwaye le ngxowa yayingu-3.34% kulezi ziinyanga ezi-6 ezidlulileyo. ukungaphumeleli kwamaqondo angama-206.
EYunivesithi yaseBrown, saqala ukusebenza kunye noParnassus kwiNgxowa-mali yaseBrown yaseNyuvesi yaseBrown eqhubekayo enomxholo onokuphelelwa yimali xa ifumanisa amathuba angqongileyo kunye nentlalontle, ngoko kubaluleke kakhulu ukubona uParnassus eqhubeka eqhuba ngamandla.
Ukususela ngoJulayi 23, 2016, ngokunjalo, izitokisi zokugqibela ezi-5 esazihlukanisa njengeklasini njengotyalo-mali oluzinzileyo ngokubaluleka kwezemali kunye nokubonakala kokuzinzileyo kwaye ezi:
UHannon Armstrong, i-Xylem, i-Alphabet, i-3M, i-Applied Materials
Ezi nkampani ezi-5 ziphakanyisiwe + 18.27% njengeliphothifoliyo elilinganayo, ngokubhekiselele kwi-S & P 500 + 7.9% ukususela phakathi no-Matshi xa ezi ziphakanyisiwe kuqala kwaye zivotelwe ngabafundi bethu.
Sibhalile ngaphambili apha malunga neParnassus, iqumrhu lokutyalo-mali olusekelwe kwi-Bay Area, eliye lalingqongileyo ngokwemali ngelixa abaphathi abaninzi abachaphazelekayo baye baxhomekeka kakhulu kwiimpawu zokubeka.
Enyanisweni, kuphela i-15% yeengxowa-mali zexabiso-ezinkulu ezibetha amanqaku abo okubhekiselele kunyaka odlulileyo.
Kwaye ngoko ibha ephezulu isetyenziselwe ukutyalomali-mali, kodwa ngokusetyenziswa kobuchule be-ESG kunye nobuchule kunye nesicwangciso esilungileyo, ukungaphumeleli kwemali kunokwenzeka kwaye kunokuzama ukufikelela kunye nokufezekiswa xa ezinye izicwangciso ezifanayo ngaphandle kokugcinwa kokusebenza zijongene.
Enye iNgxowa yeParnassus, i-Endeavor, yayisisigxina sezimali esizinzileyo sonyaka-mali esiyiminyaka engama-10 edlulileyo, ukubetha amanqaku, kunye neParnassus ngoku ngoku ilawula into efana ne-$ 15 Billion ukusuka ngaphantsi kwe-R6 billion eBrazil ngo-2007.
Ukwenza ngokuqinileyo iNgxowa-mali ye-TIAA-CREF yeNtlalo yeNtlalo, eyona yeyona mali yesibini enkulu ebhekene neentlawulo zeentlobo zayo ezimalunga no-2.7 Billion kwii-asethi, kodwa imela ngaphezu kwe-16 Billion ye-asethi xa ubandakanya i-akhawunti yangasese, ngokuqinisekileyo le nto ibaluleke kunazo zonke imali ezinzileyo yokutyalo-mali, mhlawumbi emhlabeni wonke, kwiphothifoliyo ephethweyo.
Olu hlobo lweemali ezinamandla zokusebenza kwemali ukukhawuleza umdla kuphela kwintsimi.
Olunye uphando olubonisa ukungaphumeleli kwemali kwemiba efana nebhodi yeentlobo zezobulili kunceda unyuse umdla wabathengi.
Impembelelo iqala ukungaqhubi i-ESG njengokuba ingakumbi ingozi xa ingenakucetyiswa, ingakumbi xa ucinga, umzekelo, ukuba unomlinganiselo ongezantsi weoli. Utyalo-mali nje ngokungathi iseshishini siza kuqhubeka, akunakulungelekanga, ingakumbi ukuba ngokungafani nokuzinza kuphela, unokufumana ithuba lokufumana iindiza ezintle ezinjengeenkampani ezifana neTesla Motors, kanti ukuba awuyikudibanisa, ulahlekelwa ngcaciso.
Abaqhubi bezemali abanamandla kunalo luqhagamshelwano olugcinwe yiBloomberg yiNgxowa-mali yeNkxaso yexesha elide likaCalvert (+ 11.8% kwi-A Share shareholders) kunye ne-Calvert Global Water Fund (+ 10.78% ye-A Share Investors).
Ezi zibonakaliso ezinamandla kakhulu zentsebenzo yezemali kwi-class ye-asethi zibonisa ukuba abatyali-mali kufuneka bajonge nje kuphela kwiimali ze-equity kodwa nakwezinye iindidi zokutyalomali ezinjengeibhanki, izibonelelo kunye nolwabiwo-bucala, olunokuba nzima kunomntu ophakathi ukuba angene, kodwa leyo ingaba yithuba elikhulu kwiifom ezincinane ezinje.
Kwakhona ugcine engqondweni ukuba iimvuzo ziguquka ngokukodwa ngamacandelo. Njengalo nxu lumene lwe-FactSet, umvuzo weenkampani zamandla we-energy wawa ngonyaka wama-77% ngonyaka, ukuwa okukhulu kakhulu, nokubonakalisa ukutshintshwa kwehlabathi jikelele ekusebenzeni kwamandla kunye nokusetyenziswa kwamanani kwongezelela ukongezwa okwandisiweyo esikufumene kwangoko ku-US.
Utyalo-mali olusisigxina akusiyo nje umgca wokulwa nale mizila kodwa nendlela yokufumana i-Alpha, ngeendlela ezithile zokuqala.
Kodwa sifanele sihlale sikhumbule ukungaphumi komnyaka we-Generation Investment Management, njengeParnassus, ebonisa ukuba abaTyalo-mali bathengisa ukugcinwa kwezinto bebenzi kakuhle okwethutyana ngoku.
Kwinqanaba lethu leBrown, njengoko kuthethwe ngaye, sifumane uHannon Armstrong kunye no-Xylem ukuba zibe zizinto ezibini ezona zikhethileyo kakhulu, kwaye ziphakame + i-22% kunye + no-23% ngokulandelanayo njengoko zikhethwe kwi-portfolio yethu kwiklasi.
Ezi zixhobo zengqalasizinda zamandla kunye neziseko zamanzi zilandelelanisa, zidibanisa ukuzinza kunye neyezimali / ibhizinisi, kwaye ezi nkampani ziqhutywa ngokucophelela kwaye zigcinwe ngokuzenzekelayo, zingazami ukuza phambili.
Ukwahlula oku kulawulo olungapheliyo lweengxowa-mali-mali yesahlulo sokuqala se-2016, i-theCalvert Global Energy Solutions Fund, phantsi kwe-7.9% kwi-A Share-investors ngexesha le peroid. Le ngxowa-mali yenza ngokucacileyo ibhethri engasebenziyo kangangoko kwicandelo lezamandla elivuselelekayo njengale ngxelo.
I-BlackRock ekuqaleni yayinomsebenzi ongenamathuba afanayo xa iqhuba iYurophu yeNew Energy yeYurophu, ngoko ke ingxowa enkulu ehlala eYurophu, kodwa i-performance yayo iphenduke kutshanje kwaye ngoku i-4 star Morningstar fund. I-Parnassus igcina isimo sayo seenkwenkwezi ezi-5, iCalvert ininzi yesikhwama esixutywe.
Kwisibonelelo ngezimali, nangaphandle kwesikhungo esisodwa sezemali, kunokungabikho komsebenzi okanye ukungasebenzi kakuhle kwezicwangciso zokutyalo-mali ezizinzileyo, kodwa ngokuzinzileyo kunye nobuchule obusetyenziswe khona akusayi kubakho ukucatshulwa kwengubo yokubuyiselwa kweentlawulo eziseleyo etafileni.
Ngakolunye uhlangothi, iimali ezinkulu kunye nezona zininzi kakhulu zikhoyo ngoku, kwaye kunye nemiba efana nokungalingani kwemali eWest, iklasi ephakamileyo e-Asia kunye nemiba echaphazelekayo efana nokuguquka kwesimo sezulu ekugqibeleni, ukungafani nokutyalo-mali oluzinzileyo ezinokuqikelela kunye neziqinisekiso ukuba yindlela ehamba phambili.
Iinkxalabo malunga nomgangatho we-ESG idatha nazo zihlala kwaye zikhula ngokukhawuleza ngemini, ngoko ke utyalo-mali oluthile luye lwaphumelela. Utyalo-mali olusisigxina akusikho inkcazo elula xa iinkampani zisebenza kwiinkqubo ezintsha ezinjengemoto engaqhubiyo, ngokubanzi ngasese, ukuze ukwazi iinkampani kubaluleke kakhulu.
Oku kuchasene nokuchaneka, kubakho ukutyalo-mali okuzinzileyo ngoku kuya kubonakala njengento yokulondoloza imali ngokubanzi ngokubanzi. Kwenzeka njani ukuba i-error twist yeentlobo-utyalo-mali oluzinzileyo lube yithuba eliphambili kwicandelo leenkonzo zezezimali kwaye linokusindisa ngokupheleleyo amabhizinisi abo.
Iindaba eziphambili kukuba oku kunceda iziphumo zentlalo kunye nezentlalo kunye-malubaleke umncintiswano kumgangatho oqalayo.