Future Returns: Maximizing Benefit Through Social-Impact Muni Bonds

At the end of 2022, asset managers held US$8.4 trillion in ESG-aligned investment vehicles, according to the US SIF Foundation, representing 13% of all U.S. assets under management.

Eric Glass was one of the pioneers of that class of investments, helping launch AllianceBernstein’s Municipal Impact fund in 2015. Glass helped raise US$1.4 billion for the fund, and managers proudly point to its many positive impacts.

But in 2021, Glass walked away from the Nashville, Tennessee-based

AllianceBernstein, striking out on his own to develop a municipal strategy that he believes can be even more impactful to local communities and more beneficial to investors. The muni-bond market has long been the vehicle for financing the fundamentals of a community—roads, water, electricity, education, and so on. Using it to target needier populations represents the muni market’s natural evolution toward “socially responsible” metrics, Glass says.

Continue reading.

Barron’s

By Andrea Riquier

Feb. 28, 2023



Copyright © 2024 Bond Case Briefs | bondcasebriefs.com