Bloomberg, Markets, By Kevin Orland, and Derek Decloet, Updated on
Fund manager IGM Financial Inc. is making a bet on sustainable investing by buying Greenchip Financial Corp., a Toronto-based boutique that’s focused on environmental firms.
The acquisition is being done through IGM’s Mackenzie Financial unit. Greenchip oversees more than C$485 million ($374 million) for foundations, endowments and individual investors. The companies didn’t disclose terms.
Greenchip invests exclusively in companies that make money off the transition to greener energy, including companies that focus on energy efficiency and sustainable agriculture.
“We want to meet that growing need of Canadian investors who, for a variety of reasons, want to align their personal values on the environment or climate change to their investment dollars,” Mackenzie Chief Executive Officer Barry McInerney said in an interview. “Some of these investment strategies are really smart and provide strong long-term return opportunities as well.”
Fund manager IGM Financial Inc. is making a bet on sustainable investing by buying Greenchip Financial Corp., a Toronto-based boutique that’s focused on environmental firms.
The acquisition is being done through IGM’s Mackenzie Financial unit. Greenchip oversees more than C$485 million ($374 million) for foundations, endowments and individual investors. The companies didn’t disclose terms.
Greenchip invests exclusively in companies that make money off the transition to greener energy, including companies that focus on energy efficiency and sustainable agriculture.
“We want to meet that growing need of Canadian investors who, for a variety of reasons, want to align their personal values on the environment or climate change to their investment dollars,” Mackenzie Chief Executive Officer Barry McInerney said in an interview. “Some of these investment strategies are really smart and provide strong long-term return opportunities as well.”
