Incapital has launched Legacy, a new investment platform designed to help advisers align their clients’ financial and social impact goals.
Incapital’s Legacy is currently offering a five-year callable step-up fixed rate impact note and a 10-year callable step-up fixed rate impact note as well as five non-rated notes issued by Calvert Foundation.
According to Louise Herrle, managing director of capital markets for Incapital, the firm is looking to tap into new issuers and structures to address investor and adviser demand.
“We look forward to working with additional issuers who could provide investment opportunities in a wide range of values-based initiatives, including climate friendly offerings,” she said. “Our goal is to build Legacy into a robust platform that provides advisers with innovative investing options to meet their clients’ environmental and social impact goals.”
Incapital’s footprint in values-based investing dates back to 2005 when the firm joined forces with Calvert Foundation to introduce a new programme that for the first time made their Community Investment Notes available to individual investors.
“Incapital’s Legacy platform builds upon the leadership role we’ve taken, through our partnerships with Calvert Foundation and IFC, in creating opportunities for individuals to use their investment dollars to impact social and environmental change,” said Tom Ricketts, chairman of Incapital.
Over the past nine years, more than $225m of Calvert Foundation’s Community Investment Notes have been distributed through Incapital’s national distribution network.
“Through our partnership with Incapital, financial advisers and their clients have convenient access to an investment that is creating measurable social impacts throughout the US and in more than 60 countries around the world,” said Jennifer Pryce, chief executive of Calvert Foundation.
To date, said Pryce, the initiative has created more than 200,000 jobs in the US and developing countries, has helped to construct and refurbish more than 10,000 affordable homes and has supported more than 5,000 nonprofits, co-ops, and social enterprises.
In March of this year, Incapital partnered with International Finance Corporation (IFC), a member of the World Bank Group, to launch Impact Notes, a new program that provides US individual investors regular access to triple-A rated bonds that support private sector growth in developing nations worldwide. IFC uses its capital, expertise and influence to help eliminate extreme poverty and promote shared prosperity in more than 100 emerging countries.
In September of this year, IFC and Incapital introduced “green bond” offerings under IFC’s Impact Notes programme. IFC Green Bonds provide US individual investors with an opportunity to buy notes that support renewable energy and energy-efficiency investments.
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