SAN FRANCISCO, June 19, 2018 /PRNewswire/ -- Newday Investing, a financial technology and institutional asset management company bringing socially responsible investing to the mainstream, today announced the public opening of its platform and its availability in the iOS store. 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 lynchpin 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:
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:
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 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.
SOURCE Newday Investing
These press releases may also interest you