On the Envestnet platform, year-over-year investments in impact and ESG strategies were up 98% in 2019, and were up 81% in 2020-making ESG the fastest-growing segment of Envestnet's managed money universe. Investor interest in ESG strategies that seek to influence positive social change continues to rise. These insights are then evaluated and scored using specific, detailed criteria across ESG governance and policies, integration in the investment process, reporting, and engagement on ESG issues. Information on these four key areas is collected from managers through a questionnaire and ongoing conversations with investment teams. These insights will equip advisors with better information on ESG investment strategies, which they can use to cut through the excess noise as they effectively navigate the growing ESG fund landscape."īased on interactions and questionnaires from ESG managers, as part of the ESG due diligence framework, PMC's research team analyzes firm-level ESG policies, ESG integration in the investment process, reporting on impact, and engagement on ESG issues at equity and fixed-income managers across the Envestnet platform. We examine each manager to identify their level of commitment to ESG integration. "In order to give advisors and their clients a roadmap for making ESG investment decisions, we have developed a multi-factor ESG due diligence process for evaluating ESG strategies available on the Envestnet platform. "With increased activity and interest in ESG, advisors and investors can be overwhelmed with potential ESG investment opportunities," said Kiley Miller, Associate Portfolio Manager at Envestnet | PMC. This additional level of research and due diligence from PMC is ultimately designed to help financial advisors and their clients make well-informed ESG investment decisions. (NYSE: ENV) announces that Envestnet | PMC (PMC) has launched an environmental, social, and governance (ESG) due diligence program to enhance its existing proprietary due diligence framework-and enable its research team to hold more meaningful conversations with asset managers throughout the Envestnet ecosystem about ESG investment processes and strategies. Impactive Capital, which was founded by Taylor Wolfe and Christian Asmar, oversees $2.8 billion in assets.Additional Layer of Analysis Provides Greater Clarity on ESG Strategies & Uncovers High-Conviction Managers Across the Envestnet PlatformĬHICAGO, Ap/PRNewswire/ - Envestnet, Inc.
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In addition to Taylor Wolfe, Impactive Capital nominated private equity firm Lane Holdings Inc chair Wendy Lane, former UBS Group AG global wealth management co-president Thomas Naratil and former chief financial officer of collaboration software provider Diligent Corp Michael Stanton to the board of Envestnet. 15, double the cumulative return during the trailing five-year period, as evidence of "shareholders' profound dissatisfaction with the company's current direction and their desire for change." Impactive Capital cited an 11 per cent return in Envestnet's stock since the fund unveiled its push for changes at the company on Nov. It also said Envestnet's management and board directors were overpaid and that the company should improve its corporate governance by putting all of its directors up for election every year. In its statement, Impactive Capital cited poor profit margins and bad capital allocation among the reasons for Envestnet's underperformance. The company currently has a market capitalization of about $3.4 billion. The fund remains open to discussions with Envestnet so that a proxy contest can be avoided, according to people familiar with the matter.Įnvestnet shares, which have shed about 23 per cent of their value in the past year compared to an 18 per cent decline in the S&P 500 Index, rose 2.2 per cent in early trade on Wednesday on the news.
Impactive Capital said it unveiled the challenge to Envestnet after its attempt to negotiate just one spot on the company's board for Wolfe was unsuccessful. "Given the disappointing returns, margin underperformance, and questionable governance over which the current board has presided, we have concluded that change is required for all directors up for election at this year’s annual meeting," Taylor Wolfe said in a statement.Įnvestnet did not immediately respond to a request for comment. Impactive Capital, which holds a 7.5 per cent stake in Envestnet, nominated two men and two women, including its co-founder Lauren Taylor Wolfe, to Envestnet's board. vendor of software that helps manage investments, in a push to improve its financial performance, the hedge fund told Reuters on Wednesday. NEW YORK :Impactive Capital has nominated four directors to the board of Envestnet Inc, a U.S.
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