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A Philanthropy California Investment Collaborative

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Minnesota philanthropy innovates again: why not invest at home and encourage other foundations and investors to do the same? The foundations who joined together to create the Minnesota Impact Investing Initiative are inspiring others to invest in a competitive financial return and positive social impact across 18 counties.

Aligning investments
both with mission focus
and within the local communities

 

- RBC Impact Team


We have observed an increase in interest from investors looking to collaborate to lift up their local communities through impact investing, driving dollars into investing initiatives designed to deliver both social and financial return.
 

- RBC Impact Team


Annual Responsible Investment Survey

RBC Global Asset Management's global survey of institutional investors’ attitudes and perceptions on
topics related to Responsible Investment.
 
2020 Executive Summary: Global adoption –
regional divide


Read our previous reports  2019  |  2018  |  2017  |  2016

Providing a coordinated approach for investors to make market-rate investments to impact California with a focus on underserved communities and families.

The Mission of Philanthropy California

The Philanthropy California Collaborative provides mission-driven investors a coordinated approach to support high impact projects through market-rate investments in California that focus on underserved communities and families. These projects support affordable housing, job creation and small business growth, increased access to healthcare and education, and related community development measures for populations too often left behind. Investments also support environmental sustainability, which is critical to the creation of thriving and resilient communities over the long-term.

Investment Approach

Through its partnership with RBC Global Asset Management (RBC GAM), Philanthropy California participants can invest in high quality, liquid fixed income strategies intended to create positive social and environmental impacts while also seeking a competitive financial return.

Impact

RBC GAM believes that we can help build stronger communities in California through fixed income investments that offer safety, liquidity and competitive returns. We build portfolios of high quality securities in an effort to meet investors' needs while aiming to achieve a market rate of return and increase the flow of capital to designated communities.*

*Philanthropy California participants' ability to designate geographies and/or themes is dependent on the amount of their investment and the vehicle through which they invest.

 

The Impact Made in California 

Our stories

Customized Reporting

All participants in the Philanthropy California Investment Collaborative, regardless of size, will receive a report
detailing the underlying loans in each California security
RBC GAM invests in on behalf of the Philanthropy
California Investment Collaborative.

Sample Reporting

Impact Annual Report

RBC Global Asset Management's overview of our Impact Bond capabilities, featuring our proprietary impact measurement and investment examples.

2019 Impact Investing Annual Report

Read our previous report 2018

Additional RBC Impact Persectives

Invest with an Impact

Access Capital Community
Investment Strategy


Other Investment Options 

- Impact Bond Strategy

- Customized Mandate

Addressing the Needs of California

 
Homeownership


Owning a home has long been a pillar of the American dream. But low-and-moderate-income would-be homeowners, even those with good credit, are often overlooked by the banking industry. RBC GAM creates custom securities where the underlying loans support affordable mortgages made to low- and moderate-income families. Affordable
mortgages for low-to-moderate income families provide stability and are a major vehicle for building wealth and economic opportunity.


Affordable Rental Housing


Across America, rental housing stock is severely limited and often overpriced. 80% of low-income households pay
more than 1/3 of their income for rent, leaving less for food, healthcare and education. RBC GAM’s impact investing
strategies finance affordable rental units, buying first mortgages of multifamily rental units, helping to support renters
with income limits, who are further supported by federal, state and housing authority assistance programs.


Small Business and Job Growth


Would-be small business owners often lack the capital to open businesses that serve the community, like laundry
facilities, supermarkets and clinics. RBC GAM’s impact investing strategies buy the guaranteed portions of SBA loans to deliver more services to the residents of low- and moderate-income communities and provide more job opportunities. We also support businesses with a special social or environmental focus, as well as loans made to underserved borrowers.


Healthcare


Lack of access to comprehensive, quality healthcare services impacts the ability of men, women and children to lead healthy and productive lives. RBC GAM’s impact investing strategies invest in a range of healthcare facilities in
underserved communities – including nursing homes, community clinics, skilled nursing care and family dentistry –
resulting in healthier, more stable and more productive communities.

Read additional details surrounding
Investing for Impact: A California Collaborative

To date, investments in California have supported:

2,782 affordable rental housing units
830 mortgages for LMI homebuyers
57 small businesses
17 municipal projects
3 CDFIs
2 healthcare facilities
1 educational institution

Source: RBC GAM, as of 3.31.20

Source:  RBC GAM, Tableau
Size of investment location on map is reflective of size of estimated current loan amount.

Impact Summary
 

Geographic Summary


Education 


Access to quality education is a key driver of upward socioeconomic mobility, and helps to reduce inequalities. RBC GAM’s impact investing strategies support equal access to educational opportunities by investing in municipal bonds supporting school districts, community colleges, and job skills and training programs, as well as small business loans
for daycares and preschools.

  ​​​​​​
Environmental                          Sustainability 


Climate change is a global challenge that will have impacts on economies, markets, and societies worldwide. RBC GAM’s impact investing strategies support projects that promote the health of the environment, including renewable energy, clean air and water, land preservation, efficient resource use, and environmental remediation.

LAGUNA HILLS HEALTH & REHABILITATION CENTER – Laguna Hills, CA

BUTCHER SHOP – Berkeley, CA

URGENT CARE CLINIC – Los Angeles, CA

Grantmakers in California Launch Impact Investing Collaboration

We are pleased to collaborate with so many mission-driven organizations on a program that supports impact-related investments that support underserved communities and families in the state of California. Impact investing can help California thrive and prosper.
 

- Catherine Banat
Director of U.S. Responsible Investing
RBC Global Asset Management

 


Solutions for Making and Measuring Impact in California

1The mutual fund holds approximately 20% of its assets in California.
2A report detailing the underlying loans in each security in which the participant invests.
3A report detailing the underlying loans in each California security RBC GAM invests in on behalf of the Philanthropy California Investment Collaborative.

  Geographic
Designation
Thematic
Designation
Individual DTR
Report2
Philanthropy
California Report3
Access Capital Community Investing        
Separate Account Yes Yes Yes Yes
Mutual Fund At ≥ $1 million No At ≥ $1 million Yes
Impact Bond        
Separate Account Yes Yes Yes Yes
Mutual Fund No1 No No Yes
Customized Separate Account
(≥ $25 million)
Yes Yes Yes Yes


Disciplined Investing with a Community Development Purpose through the Access Capital Community Investing Strategy

  • Through impact investing, investors can pursue competitive investment returns while achieving measurable social impacts.
     
  • One approach is to add an impact dimension to the kinds of U.S. fixed income securities that investors already own. These customized securities can achieve lower expected volatility, more stable cash flow characteristics and the return required for a compelling double bottom line outcome and investment dollars can be targeted to a particular geography.
     
  • Socially responsible investment that helps build stronger communities through its support of low- and moderate-income home buyers, affordable rental housing units, small business administration loans and economic development projects.
     
  • Meets Community Reinvestment Act (CRA) requirements.
     
  • Investors can geographically target their investments by state, city or county (subject to amount and vehicle of investment)