Tracing their history to 1928, Wellington Management is one of the world’s largest independent investment management firms. With more than $1 trillion in client assets under management, they serve as a trusted adviser to clients in more than 60 countries. In addition to integrating ESG factors into their research and portfolio management processes, Wellington also manages a variety of impact investing strategies that have explicit sustainability objectives that align with UN Sustainable Development Goals and produce Key Performance Indicator (KPI) reporting.
Wellington has developed a proprietary impact framework focussed on three broad impact categories (Life Essentials, Human Empowerment, and Environment) and 11 investable impact themes. An Impact Committee team meets regularly to identify issuers that can be classified within this framework and meet strict impact criteria.
To construct the portfolio, impact bonds are selected from that universe by combining a top-down strategy for portfolio positioning with bottom-up fundamental credit research. The top-down process includes setting credit risk, duration positioning, and determining sector allocations. The credit research process looks at the quantitative analysis of a company's historical financial data and qualitative analysis of a company's prospects. Duration positioning is a function of both the team’s view on rates and credit cycle. Sector allocations are driven by a blend of impact, structural, cyclical, and opportunistic themes. Forecasts for GDP growth, inflation, and corporate profits; quantitative analysis of market volatility and yield curve shape and qualitative assessments of future supply and demand trends in each sector are all inputs in determining sector allocations.
Once the top down sector strategy has been set and bottom up security selection recommendations have been made, the investment team then builds the portfolio. The team aims to diversify the portfolio by sector, impact theme, and issuer.
|Name||Lead Managers||Inception Date||Category||Morningstar Profile|
|NEI Global Impact Bond Fund||Campe Goodman||14-07-2020||Global Fixed Income||A|
Campe Goodman, CFA
Senior Managing Director, Partner
and Fixed Income Portfolio Manager
Campe is a portfolio manager on Wellington’s Impact Team and Broad Markets Team. He has been managing multi-sector fixed income portfolios for nearly two decades. He is the lead manager on Impact Bond and Multi-Sector Credit portfolios, and he also leads a specialist team responsible for the development of sector rotation strategies. Outside the firm, Campe is a board member and former board chair of a Boston based non-profit organisation that helps individuals, including many immigrants and refugees, to find employment and develop their careers. Prior to joining Wellington Management in 2000, Campe spent four years at the Massachusetts Institute of Technology studying macroeconomics and finance in a doctoral programme in economics. He received his AB in mathematics, magna cum laude, from Harvard College (1995). In addition, Campe holds the Chartered Financial Analyst designation.