Older Investors Opening Up to Socially Conscious Investing
Thursday, May 14, 2015
Younger investors have long been interested in socially conscious investing, but a new report from Spectrum Group indicates that older investors — loath to “throw away” money — are starting to turn to funds that espouse a cause, as long as they get a return.
“We have done the same research in the past and the surprising thing this time is that the older folks are intrigued by impact investing,” said Cathy McBreen, managing director of Spectrem.
The main reason for the change, according to Ms. McBreen, is that people now recognize that socially conscious companies are well-structured and competently run.
“The old-fashioned belief that you don’t get good returns on these investments is changing,” Ms. McBreen said.