Specialist ESG asset manager Alquity has launched a new 40-40 Campaign targeting support at those who will be hardest hit by the effects of the coronavirus pandemic.
Specialist ESG asset manager Alquity has launched a new 40-40 Campaign targeting support at those who will be hardest hit by the effects of the coronavirus pandemic.Alquity’s existing business model donates 10 per cent of fee revenue to social support for the most disadvantaged people in the emerging markets in which it invests. The 40-40 campaign quadruples that commitment, with Alquity donating 40 per cent of its net management fees derived from new investments into its funds from client partners for the remainder of 2020. Via Alquity’s Transforming Lives Foundation, a registered charity, the money will be delivered to charity partners running projects specifically aimed at alleviating the impact of Covid-19.
Social distancing, hand washing and staying at home are all privileges few in the developing world can afford. Covid-19 will have a disproportionate impact on those living in cramped conditions, with poor healthcare and no social safety net. Here are two examples of how projects supported by Alquity have already responded to the pandemic.
– Ghanaian charity Global Mamas teaches women to make handicrafts to sell. Now they are swiftly retraining the women to sew face masks, to provide them with a continued income.
– In India, charity Shivia provide chicken-rearing kits to rural families to allow them to develop an alternative income source. Unfortunately, rumours are circulating on social media that chickens spread Coronavirus. Shivia’s workers are urgently targeting communities with educative messages online and by text message to prevent families slaughtering an important contributor to their livelihood.
The Alquity Transforming Lives Foundation performs thorough due diligence vetting of all charity partners. As part of the launch of the 40-40 campaign, the Foundation has committed an initial USD40,000 and is already working to identify further specific programmes that can deliver tangible impact during the crisis.
“Our 40-40 Campaign is our response to the severe economic and social hardship the Coronavirus pandemic will cause many people around the world. Alquity has always believed that wherever you are born, you should have an equal opportunity in life and this is even more relevant today. As some of the freedoms and comforts we are used to in developed countries are dramatically reduced, we are getting a glimpse of what daily life is like for a some of the poorest people on the planet. This is our chance to transform investment and create a fairer, more sustainable society” – Paul Robinson, Chairman, Alquity
Alquity is currently seeking partners across the investment industry to support the 40-40 Campaign. Robinson adds: “We believe the global investment industry has a role to play in supporting the most vulnerable in society at this time. We invite any fund platforms, consultants, asset owners and other investment service providers to join 40-40 and play their part. Just get in touch.”
The Alquity Funds invest in global emerging market equities across Asia, Latin America and Africa, using a fully integrated ESG investment process. As well as being A+ rated by the UNPRI for ESG integration the funds have received the ISR label certification from the French Finance Ministry for the quality of its ESG investment process and to date, investments into the funds have generated over USD2,000,000 in donations to social development projects.
