February 6 2008 Media Release
Vancity Perspectives Portfolio Solutions aligned with member values
Socially responsible RRSPs go beyond green
Vancouver, February 6, 2008 — Socially responsible investing (SRI) is increasing in popularity as a vehicle for investors to derive a financial return while aligning their portfolio with their personal values. As a follow-up to Vancity Circadian Funds, a family of socially responsible mutual funds, Vancity has introduced Perspectives Portfolio Solutions-the first all-in-one SRI portfolio solution in Canada built entirely using environmental, social and governance (ESG) criteria, while at the same time considering financial performance.
Vancity's Perspectives Portfolio Solutions comprises five portfolios designed to provide diversification across asset classes and geographic regions. Tailored to investors' goals and risk tolerance, portfolios are automatically rebalanced in response to market changes.
Perspectives Portfolio Solutions are managed by Inhance Investment Management Inc., Vancity's socially responsible investment subsidiary. Inhance has taken SRI beyond the traditional negative screen by actively seeking out industry sector leaders with progressive corporate accountability practices.
When necessary, Inhance's in-house investment team also encourages the companies they invest in to perform even better through shareholder engagement and advocacy in the form of corporate dialogue, the filing of shareholder resolutions or proxy voting. Doing so promotes accountability, while providing peace of mind for investors.
"Increasingly our members are looking at who they do business with and where they invest their money," says Paul Savage, acting vice-president, Vancity Investments. "They're also looking to Vancity with our triple bottom line approach to play a leadership role in social change."
Those sentiments were expressed in a recent "my2cents" forum of Vancity members which found that while members feel they have an individual role to play in reducing the impact of climate change, they feel less able to personally make a difference when it comes to issues of corporate accountability and transparency.
Kerry Ho, CEO of Inhance Investment Management, is heartened by the entry of other financial institutions into the SRI arena. "Money talks," Ho notes. "As SRI becomes mainstream, more companies will realize that good corporate behaviour can have a positive influence on their financial performance, particularly over the long term. We are proud to be offering this one-stop solution to Vancity members, especially in time for RRSP season."
About Vancouver City Savings Credit Union
Vancity is Canada's largest credit union, with $12.3 billion in assets, more than 387,000 members, and 59 branches throughout Greater Vancouver, the Fraser Valley, Victoria and Squamish. Vancity owns Citizens Bank of Canada, serving members across the country by telephone, ATM, and the Internet. Both Vancity and Citizens Bank are guided by a commitment to corporate social responsibility and to improving the quality of life in the communities where we live and work. For further information, visit www.vancity.com.
About Inhance Investment Management Inc.
Inhance Investment Management Inc. is a Canadian investment management company dedicated to being a leader in evolving the responsible investment arena, with a mission of creating wealth for Canadian investors through Return on Responsibility™. Inhance was the first Canadian mutual funds signatory to the United Nations Principles of Responsible Investments (UNPRI), and is part of the Vancity Group.