impact investing from an asian family office...
TRANSCRIPT
JRT Partners
Impact InvestingA Family Office Perspective
Registration No. 201531786C
Tuck Meng Yee (65) 9105 0258
JRT Partners
What I will be covering
1 Who is JRT Partners?
2 Why consider Impact Investing ?
3 What is Impact investing for a Family Office?
4 How did we implement Impact Investing?
JRT Partners
JRT Partners
1 About JRT Partners
• JRT Partners is a family office and fund services group based in Singapore
that:
• Deals with the management issues of investing and reporting on behalf
of an Asian family with members in 5 countries and 4 generations
• Manages a multi asset portfolio ranging from Property to Funds and
Derivatives
• Works with or advises other families on family office structure,
management, administration and portfolio management and investment
due diligence
JRT Partners
2 Impact Investing - Sustainable & Efficient Philanthropy
• Creating a Legacy: “What’s the point?”
What evidences the Family existing? How much Impact?
How would the Family be regarded? What Impact?
• Traditional methods: “Giving for good”
• Philanthropy
• Pro bono service
• New Methods: “Effectiveness and Efficiency for Good”
Giving with Intent PLUS…
Financial Accountability AND…
Results Accountability
JRT Partners
3 What is Impact Investing to Us?
A more holistic way of investing that takes into account:
• Expected personal financial impact (Risk & Profit)
• Expected impact on people (How will lives be changed?)
• Expected impact on environment (Haze, temperature, water)
Traditional Alphabet Soup Approaches:
• CSR – Corporate Social Responsibility “responsible corporate citizen”
Managing to the Spirit of the Law and to Ethical standards
• ESG – Environment, Social, Governance
Appraising investments through the 3 Filters
JRT Partners
3 What is Impact Investing to Us? (2)
• SRI – Socially Responsible Investing: “Sustainable Investing”
Invest to minimize harm to society and the environment
Eg Clean energy vs traditional energy
Invest to maximize gain to society and the environment
Eg Education and microfinance
• Venture Capital
Providing capital to the riskiest sectors of business is a form of
philanthropy with possible financial payoff
JRT Partners
4 How did we implement Impact Investing?
• We want (sustainable) satisfaction: P.E.I.
Physically (are our bodies healthier? Do we have more?)
Emotionally (does it make us happy?)
Intellectually (is it satisfying?)
…WITHOUT harming or minimizing harm to others
• Traditional assessment methods fail the above P.EI test:
• Eg1: Airlines make money but give mediocre service
• Eg2: Measuring child’s progress through life by academic grades
JRT Partners
4 How did we implement Impact Investing? (2)
• Our general portfolio
Implement CSR and ESG filters
And our own values through PEI analysis
…to restructure the portfolio
• Exploring new impact measurement frameworks
• IRIS – Impact Reporting and Investment Standards
• GIIRS – Ratings for Impact Investments
…to further refine the portfolio
• On the ground visits – vital!
JRT Partners
4 How did we implement Impact Investing? (3)
• Result? We do not invest in:
Gaming, coal, palm oil, tobacco, defense
Selected names like Microsoft, Wells Fargo
Asian retail property REITs
• We DO invest in :
• Ecoresorts - helping with the haze and reforestation
• Agriculture – no live beef exports
• Social Impact Bonds – reducing juvenile delinquencies
…each so far delivering double digit returns*
Our experience is that the portfolio has not suffered by
implementing Impact and ESG approaches
JRT Partners
4 Example – Eco Resorts Investments
• 2 resorts in Indonesia Sumatra:
Not developed tourism areas
Palm oil and fishing main industries
70 staff trained and employed
Furniture and transport businesses seeded
• Impact programs : Increased awareness of -
• rainforest preservation
• coral reef preservation
• sustainable fishing
…with Investment IRRs of >25% despite low occupancy!
JRT Partners11/12
Tuck Meng Yee 庾得明
Tuck Meng has over 20 years experience in investment
products development, research, marketing, portfolio
allocation, and administration especially in funds and
alternative investments. Most recently heading global fund
services group Moore Management's Singapore office
before founding JRT Partners, a family office and fund
services group.
His experience in designing, analysing, marketing,
managing and supporting fund investments and structured
products for leading institutions like Citi Private Bank, ABN
Amro Private Bank, JP Morgan, UBS, and the
Commonwealth Bank of Australia in Asia and Australia gives
him a keen sense of what investments suit which types of
investors, and the support they typically need.
Tuck speaks English and Mandarin, and holds degrees in
Accounting, Computer Science, and Finance (Masters) from
the Australian National University and the University of New
South Wales.
JRT Partners
Staying In Touch
We welcome enquiries!
Tuck Meng Yee
+65 9105 0258
(Viber QR code at right)