Katharine Earhart

Great to see RSF Social Finance's flagship loan fund, the Social Investment Fund, in today's ImpactAlpha The List: Impact fund managers steer private credit to places equity fears to tread. #changemakers #socialinvestmentfund #regenerativefinance #impactinvesting #wealthmanagement

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When financial planning for parents of children with disabilities, we help clients find a balance between the stresses and the opportunities for government benefits, support programs like the RDSP, and tax strategies. Thanks The Globe and Mail Globe Advisor Alison MacAlpine for sharing on this important topic #financialplanning #disability #familyplanning #wealthplanning The Wong Group at Wellington-Altus Private Wealth Wellington-Altus

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An interesting view of the state of non-profits in 2024 by the Centre for Effective Philanthropy: 1) Leadership burnout 2) Budgets - what to do with surpluses? 3) Growing funder commitments in grant practices As an industry - we need to do better! https://lnkd.in/g_C-zJq5

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📖 Callan published their first 2024 Asset Manager DEI Study last week, examining how investment managers approach diversity, equity, and inclusion (DEI) in their own firms. The study reflects the input of over 1,200 organizations in Callan's proprietary database. In this blog post, authors Laura M. Dawson and Lauren Mathias, CFA offer key insights into the results. Thanks to team Callan for the ongoing support of the 100 Women In Finance FundWomen pillar. 🔗Read it here:

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The U.S. #election is finally here, and I have encouraged investors to consider leaning into what I call “bipartisan” investment themes. Check out the article from MarketWatch that highlights some of these ideas:  https://lnkd.in/evnQhg9Z I believe it’s also worth keeping an eye on emerging markets, where I expect to see some #volatility around the results. While each candidate poses unique risks, I see certain pockets within #emergingmarkets remaining attractive and standing to benefit regardless of the outcome. For example, U.S.-friendly Asian nations like #India and #Taiwan stand to benefit from the U.S.’s ongoing decoupling from #China, which both sides of the aisle broadly support. It was also great being back on CNBC-TV18 to give my thoughts ahead of the election, specifically the implications for emerging markets and why I believe the recent pullback in India could present an opportunity for long-term investors to consider. It is a leading beneficiary of Asian supply chains getting moved away from China as well as U.S. “friendshoring” efforts. I believe growth trends continue to look supportive for the economy and I favor looking for quality companies that have sold off despite reporting good earnings.

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💰 What does the future of climate investing look like? 🗣 I recently attended a Women in ETFs event where I was on a panel with Amberjae Freeman of Etho Capital, Matthew Dean of University of California Irvine and moderated by Teri Geske. 🌎 The panel discussed food systems transformation, the new energy economy, and how climate tech investing can help both of those sectors. The panel was recorded and will be released as an Upside & Impact: Investing for Change podcast episode on July 9th. #foodsystemstransformation #newenergyeconomy #impactinvesting

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I'm honored and grateful, Paul La Monica, that you included me in your article on Tesla. My comments yesterday in Barron's: Christopher Tsai, president and chief investment officer of Tsai Capital, an investment management firm that owned nearly 130,000 shares of Tesla as of the end of December, agrees with Newman. “Misunderstood by much of Wall Street—and consequently a favorite of short sellers—Tesla continues to grow and increase its lead over the competition while delighting consumers in the process,” Tsai said in an email to Barron’s. “Tesla has experienced periods of slowing growth in the past, but these periods proved to be temporary. We expect the company’s growth to accelerate once again,” Tsai added. Important Disclosures: As of 12/31/2023, Tsai Capital owned 129,237 shares of Tesla. Portfolio holdings are subject to change. Current and future portfolio holdings are subject to risk. For additional disclosure information, please see: https://lnkd.in/ecVD8QxU #tesla #stock #elonmusk #electricvehicles #earnings #fsd #robotaxi

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I would like to discuss the March 22 Nikkei article, "One Year to Go Until the Expiration of TSE Transitional Measures: 9% of Companies Fail to Meet Listing Standards, Many Have Liquidity Challenges."

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A great article by Michael Swinsburg on the evolving role of the COO, highlighting how they are transitioning from behind-the-scenes to front-facing leaders, managing diverse teams and geographies to drive strategic growth and innovation. The focus on resilience, renewal, robustness, and relationships is spot on, particularly in today’s complex and fast-changing landscape. https://lnkd.in/gjcjJqZW

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With ImpactAlpha our analysts at HIP Investor Inc. have published climate risk and climate resilience analysis on several muni bonds issued in 2023 and 2024, https://lnkd.in/gTrmhvEi #cop29 #climateaction #resilience #futurerisk #munibonds

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For asset managers, RIAs, family offices, and allocators in general, must read Bloomberg piece by Justina Lee highlighting the innovative work Meb Faber, Bill Davis, and Wesley Gray, Ph.D. are doing in the ETF space. Having structured and executed a few of these "Section 351" ETF seedings, getting the details right is everything! A few thoughts: -Consult your tax and legal advisors to understand the IRS (Section 351) and SEC (6c-11, custom basket policies and procedures) regulatory components of the transaction -Ensure all parties understand the "diversification" rule and what can/can not be contributed. Publicly traded equities, MLPs, ETFs, ADRs (DTC eligible securities) generally are; options, warrants, and mutual funds are not. Some nuances here around how government securities are treated and whether ETFs can be "looked through" for diversification purposes -Insuring the entire transaction (and any potential penalties, fees, etc) may be worth exploring depending on one's risk tolerance. There are a number of insurance firms willing and able to underwrite the risk of Section 351 transactions -For ETF issuers helping clients navigate these transactions, frequent communication and white glove client-service is key. Managing the flow of information, data requests, and communication in a way that works for your client, especially going into seed/launch date, will ensure they have a great experience (and don't forget to invite them to the bell ringing as well!😉) DMs are open and feel free to reach out with any questions or feedback!

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Foundation and University Endowments are social trusts for social purposes. So are their much larger cousins, Workforce Pensions. Collectively, they share the characteristics of vast size, programmatic purpose (different in the details, but all pegged to a dignified future) and forever time. This gives them all the power to use the technologies of spreadsheet math, desktop publishing and digital communication to negotiate with enterprise of any size, in any business, anywhere on the planet. They can use that power to negotiate ownership for extracting maximum possible returns by timing and riding the booms and busts in the capital markets. They can also use that power to negotiate for prudent stewardship of interactions in a dignified economy through equity payback to an actuarial/fiduciary cost of money, plus opportunistic upside, from enterprise cash flows prioritized by contract for suitability, longevity and fairness. Which should they choose? What do you think?

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Honored to be quoted with Vanguard’s Daniel Shaykevich in this The Wall Street Journal article on #activemanagement #fixedincome #ETFs. https://lnkd.in/ggnyBVUz At VettaFi we love to connect with asset managers of all sizes to help them drive growth and build their business. To learn more about how VettaFi can support your product and distribution growth strategies, please get in touch: https://lnkd.in/ehxiXJB3" Todd Rosenbluth, head of research at VettaFi, said that the higher yields on even relatively low-risk actively managed bond ETFs were likely to continue attracting investors worried about navigating the markets if and when the Fed starts lowering rates. Rate cuts that went beyond what investors are currently expecting would boost bond prices by making existing debt with higher payouts more appealing to investors. Because it’s unclear if and when the Fed is going to be cutting interest rates, investors have turned toward active management to help squeeze out as much income as possible through the benefits of ETFs,” he said.

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❗️Critical Compliance for Fund and Asset Manager Marketers: How do you stay compliant while implementing digital marketing and AI to elevate your fundraising? ➡️ Join us at the Revenue Revolution Symposium at the Questrom School of Business, Boston University to explore this and other critical business development issues in the digital age. 🎤 Featured Speaker: Derek Stern, Head of Global Distribution Compliance at Manulife Investment Management and John Hancock, and a panel of legal and compliance experts will provide crucial insights on navigating compliance in our online era: 1️⃣ Compliant Growth Strategies - Explore techniques to expand your digital presence and engage investors without crossing regulatory boundaries. 2️⃣ Surviving the New SEC Marketing Rule - Understand how to optimize your marketing strategies while complying with the latest regulations. 3️⃣ Thriving under multiple regulators - Learn how to grow your business while complying across multiple jurisdictions and regulations. 📍 Event Details: Join us on May 29, in Boston or online, for this groundbreaking symposium, sponsored by the Digital Business Institute BU. 📅 Act with Urgency: The regulatory landscape is swiftly evolving—stay ahead of the curve. Register now: https://lnkd.in/eYynjitW #DigitalMarketing #Compliance #AssetManagement #QuestromMeansBusiness #DigitalRevolution

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Great #ETF discussion with Eric Balchunas Katie Greifeld Scarlet Fu on #cryptocurrency and #ESG topics today. Can you tell I had fun? At VettaFi we love to connect with asset managers of all sizes to help them drive growth and build their business. To learn more about how VettaFi can support your product and distribution growth strategies, please get in touch: https://lnkd.in/ehxiXJB3"

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Why does Employee Ownership work? Ellen Frank-Miller, PhD's recent Op-Ed at ImpactAlpha sums up the Employee Ownership "playbook" perfectly. And now that the top-secret EO "playbook" is out there, I might as well amplify Ellen's prescription for all to see: - Award meaningful ownership stakes to employees; - Transform operational practices to give employees more control over decisions that affect them and more autonomy to do their jobs the best way they know how; - Upskill frontline supervisors to help them manage their teams collaboratively and shed the command-and-control style that’s so counterproductive to achieving shared goals; - Activate the above-and-beyond employee behaviors that power better financial results; and - Enjoy superior returns for investors, wealth-building for employees, and all the community benefits that come from healthier businesses, workers, and families. Employee Ownership is nothing more but nothing less. This is the "playbook" that we are following at Southeast Acquisition Capital, along with a select few emerging and established managers, with surely many more to come. -- At its most basic level, employee equity is just a deal term or a part of an HR benefits package. True Employee Ownership happens when equity is paired with fundamental changes in the way that employee owners perceive their relationship to their employers (developing "organizational identification"), as well as changes to their actual work output (through a "social exchange obligation"). Or in non-academic terms, we refer to this simply as "employee owners thinking, acting, and feeling like owners." I've always said that I can't wait for the day that Southeast Acquisition Capital loses a deal to another firm pursuing Employee Ownership buyouts, because from then on we can just call them "buyouts", and Employee Ownership -- both the equity piece and the quality jobs piece -- will have truly become "market" and many more millions of employee owners will be better off for it. Thanks for the shout out, Ellen Frank-Miller, PhD, and I look forward to working more with the Ownership Impact Index by WORC (Workforce & Organizational Research Center)! Apis & Heritage Capital Partners KKR Ownership Works Mosaic Capital Partners Teamshares American Working Capital, LLC Verit Advisors https://lnkd.in/eremKFj5

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