FEBRUARY 2017

Jeff Finkelman Discusses Impact Measurement with FundFire

Athena Capital Advisors’ Jeff Finkelman, speaking to FundFire, weighed in on the ongoing debate around the definition of impact investing among fund managers, and how advisors can best measure the non-financial, social objectives of their impact investments.

The article, “Impact Biz Must Curb Authenticity Tests: Bain Exec,” was published on February 22. In the article, reporter Tom Stabile covered a recent impact investing conference hosted by The Economist and highlighted specific commentary from several panelists on how those investments are best measured, given the vast scope of investment types and the need to consider each with varying lenses.

Finkelman noted that these debates around the definition of impact are not likely to hold up the industry’s growth or prevent capital from flowing in. However, he underscored that striving to define the social objectives of a strategy and understanding how to measure against these goals remain important. This is particularly true, given the threat that some managers and products will try to stretch these definitions simply to get capital – and risk diluting the intentions of the industry at large.

“In some ways, the industry had made a ton of progress on these issues,” he says. “As new actors come in, it’s reopening the debate.”

The full article can be found here (subscription required).

Jeff Finkelman is a Research Associate, Impact Investments, at Athena, where he concentrates on ESG and impact investing across all asset classes. He joined Athena from the U.S. Small Business Administration, having served as an investment officer within the SBA’s Office of Investment and Innovation.