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Building a Portfolio & Executing a Strategy

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Doug Stamm, …

Doug Stamm,
CEO, Meyer Memorial Trust.

Doug Stamm's presentation from the 2009 Take Action! Impact Investing Conference in San Francisco.

Published in: Business, Economy & Finance

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  • 1. More for Mission: The Campaign for Mission Investing Doug Stamm CEO Meyer Memorial Trust www.mmt.orgwww.moreformission.org
  • 2. Mission Investing at MMT• 1984 - Ad-hoc PRIs• 1993 - MMT first MRI-VC investing in sustainable companies in Pacific Northwest• 2002 - Reviewed Trust mission and all programs…including investment strategy• 2002 - Launched PRI program• 2005 - Set on course to increase impact through MRIs• 2007 - Trustees commit to developing comprehensive MRI plan --- Co-launched More for Mission Campaign & engaged Cambridge Investment Advisors• 2009 – Review investment objectives, asset allocation, MRI investment opportunities• FY 2008 – 8% of total assets = MRIs
  • 3. Mission Investing in Practice at MMT• CDARS – Community bank, increases community based loan capacity• Nth Power, "cleantech" VC• Endeavour, a buyout firm investing in regional middle market companies• OVP, VC investing in life sciences and internet sectors• Voyager, a VC investing in digital media and wireless technology• Community Capital – fixed income with targeted impact• Emerging Market Fund and Oregon specific fund in development
  • 4. Barriers to Mission Investing• Board risk aversion, perception of fiduciary duty, no guiding mission investing policy• Traditional view that foundation seeks to outperform market with 95% and create high impact through grants• Investment Team and Program Team working in silos• Gatekeepers’ unfamiliarity with investment intermediaries and concept of mission investing• Lack of robust manager selection