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I sometimes think if you give an active manager too much freedom, they have just enough gunpowder to blow themselves and their shareholders to Kingdom Come. This is especially so if they have no one sitting in the board room to contradict them and say, "Wait a minute, are you sure that's a good idea?" The worst part is absolute return funds are supposed to be conservative in most cases, to generate positive returns in all market environments. Nope, not this one.Mr. Noble is the Founder and Managing Member of Noble-Impact Capital, LLC, an investment advisor and sub-advisor for the Noble Absolute Return ETF.
Prior to forming Noble-Impact Capital, Mr. Noble spent more than 40 years managing institutional investment portfolios.
He began his career at Fidelity Investments in 1981, working closely with legendary fund manager Peter Lynch before becoming the initial portfolio manager of Fidelity’s international equity fund earning a top ranking spanning six years. Mr. Noble then went on to manage two separate hedge funds, each of which grew to more than $1 billion in assets.
But the money management industry, especially in the U.S., has a long way to go before it takes what stakeholder capitalism means seriously. Shareholders will need to demand that it does for things to truly change. But also, there must be pressure outside the investment world on government to truly regulate business again, to give our regulators teeth, and insist they be utterly separate from industry with regard to influence.Support of Environmental and Public Health Nonprofits: One hundred percent (100%) of the profits earned managing the Green Century Funds belong to our non-profit owners who run critical environmental and public health campaigns.
The organizations which founded and own Green Century Capital Management Inc are: California Public Interest Research Group (CALPIRG), Citizen Lobby of New Jersey (NJPIRG), Colorado Public Interest Research Group (COPIRG), ConnPIRG Citizen Lobby, Fund for the Public Interest, Massachusetts Public Interest Research Group (MASSPIRG), MOPIRG Citizen Organization, PIRGIM Public Interest Lobby, and Washington State Public Interest Research Group (WASHPIRG).
We are one of the first fossil fuel free, diversified and environmentally responsible mutual funds.
The notion that these companies will do what's best for society, consumers, labor and the environment, if they're unregulated is absurd to me. In reality, unregulated business isn't even just bad for labor, consumers, communities and the environment. It's bad for every stakeholder, even shareholders and capitalism itself. Unregulated businesses cut corners, do things for short-term profits and bonuses for executives at the expense of long-term shareholder value and brand value when the scandals are revealed. And CEOs are sometimes comfortable hurting every stakeholder, including investors, as well as the general public.We can do nothing of good in the way of regulating and supervising these corporations until we fix clearly in our minds that we are not attacking the corporations, but endeavoring to do away with any evil in them. We are not hostile to them; we are merely determined that they shall be so handled as to subserve the public good. We draw the line against misconduct, not against wealth. The capitalist who, alone or in conjunction with his fellows, performs some great industrial feat by which he wins money is a welldoer, not a wrongdoer, provided only he works in proper and legitimate lines. We wish to favor such a man when he does well. We wish to supervise and control his actions only to prevent him from doing ill.
Vanguard made the mistake of not licensing its "ETF class of funds" patents to anyone. By now, this idea is quite stale. Vanguard itself has launched some self-standing ETFs in the US, and in Europe, most of its ETFs are self-standing. The Australian firm Perpetual US/PGIA (not to be confused with the US PGIM) that has filed is for ACTIVE ETF classes of ACTIVE funds. Unclear if the Vanguard patent was limited to PASSIVE funds only, or whether it never bothered to do so with ACTIVE funds. Last few years have shown limitations of this idea - when there are heavy mutual fund outflows, then the related ETFs have the same CG distributions as all classes.
https://www.cbsnews.com/news/whats-right-and-whats-wrong-with-morningstar-fund-ratings/Obviously, the past three years account for 30 percent of the past ten years, which means that they account for 15 percent of the overall rating (30 percent X 50 percent). They account for 18 percent of the five-year rating (60 percent X 30 percent); and 100 percent of the three-year rating. Sum them all up, and we find that the past three years account for 53 percent of a fund's overall long-term rating.
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