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1700 Sansom St. Philadelphia, PA 19103 215-525-4857 SRI Fixed Income Investing TBLI May 2009

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Post on 18-Nov-2014



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Talk given by Roger Frank of Benchmark Asset Managers, at TBLI CONFERENCE™ ASIA 2009.


  • 1. 1700 Sansom St. Philadelphia, PA 19103 215-525-4857 SRI Fixed Income Investing TBLI May 2009
  • 2. s Benchmark Asset Managers Benchmark 2009
  • 3. Types of Capital Benchmark 2009 Equity Debt Public Private
  • 4. Objectives
    • Risk
    • Returns
    • Liquidity
    • Duration
    • Mission
    Benchmark 2009 Financial Social
  • 5. Benchmark 2009 Vacation Snapshots
  • 6. Benchmark 2009 Black Swan Non Financial Type
  • 7. Benchmark 2009 Symbiotics Microfinance Index v. Fixed Income
  • 8. Benchmark 2009 Symbiotics Microfinance Index v. Fixed Income
  • 9. Risk Analysis: Establishing Context Credit Cycle Peak (excess liquidity) Credit Cycle Trough (systemic shock) CCC CCC+ B- B B+ BB- BB BB+ BBB- BBB BBB+ A- A A+ AA- AA AA+ AAA- AAA 194bps 241bps* 1382bps 3393bps* 17 Credit Levels (Risk Free to B) 20 Credit Levels (Risk Free to CCC) *S&P composite; not shown on graph 14x 7x
  • 10. Risk Return Spectrum Benchmark 2009
  • 11. Investment Alternatives
    • Public Debt
      • Corporate
        • Investment Grade
        • High Yield
      • Municipal
      • Sovereign
      • Money Market Equivalents
    • Private Debt
    Benchmark 2009
  • 12. Mission Program Areas Benchmark 2009
  • 13. Mission Program Areas Benchmark 2009
  • 14. Benchmark 2009 PRIVATE FIXED INCOME PORTFOLIO The Benchmark Private Debt Portfolio invests in the debt securities of private companies, with a targeted return of 6%+ in the current environment. MicroVest was the first private microfinance firm in the U.S. It targets well-established, proven MFIs that have exhibited successful growth but lack the financing to maximize the number of loans they can offer. MicroVest is dedicated to proving the commercial viability of microfinance and harnessing the power of capital markets to alleviate poverty. A strong staff and board with extensive private sector experience in emerging markets implements this approach. ( SunFarm Ventures, Inc. is dedicated to making solar power affordable and easy to use. The companys SunFarm Network solution offers payment programs that minimize customers upfront costs and supports programs that make solar power as convenient and worry-free as buying electricity from a utility.
    • Organizations selected for innovation and leadership and for bulletproof balance sheets
    • Diversification in social impact and organizational scope
    • Target annual return of 3 5 %
    Benchmark 2009 The Community Impact Portfolio invests in organizations and businesses that directly contribute to community development in the U.S. and around the world. Impact areas include Education, Microfinance, fair trade, sustainable agriculture, renewable energy, green & affordable housing and small business development: E+Co provides capital and technical support to renewable energy enterprises in developing countries. The impact of targeting clean energy development is many fold. The energy generated displaces the kerosene and oil currently used. It stimulates and supports other local ventures, and keeps customers dollars local. E+Cos innovative approach also includes a new model for financing clean energy projects through carbon monetization. (
  • 16. Contact Details Benchmark 2009 Benchmark Asset Managers 1700 Sansom Street Philadelphia PA 19103 215 525 4857 Roger Frank [email_address] 203 409 9763 917 327 7215 (mobile)