Establishes a single source of wide-ranging ESG portfolios for individual and institutional investors
SAN FRANCISCO and MINNEAPOLIS — February 2, 2021 — Newday Impact Investing, a San Francisco-based financial technology and institutional asset management company, is acquiring Magni Global Asset Management, a Minneapolis-based leader in governance research and asset management. Newday and Magni are merging to form a comprehensive ESG investment platform that combines strong environmental and ethical values with deep governance insights from researching corporate and country-level behavior. The new company will have $197 million in assets.
According to Doug Heske, CEO of Newday Financial Technologies, “Newday and Magni have been building a constructive and collaborative relationship since 2017. Both firms specialize in offering responsible investors opportunities to learn and invest in companies that are aligned with their values.”
Magni’s superior reputation for bottom-up, qualitative governance investment research is one-of-a-kind and a strong and complementary fit with Newday Impact. “The acquisition of Magni allows us to add 20 years of governance research unavailable anywhere else,” Heske added. Kurt Lieberman, formerly Magni’s CEO and newly named President of Newday Impact, said, “We’re excited about our combination with Newday and our ability to deliver a comprehensive suite of authentic responsible investing investment products with the potential for attractive returns.”
Impacting More than Investments
The joint organization shares a dedication to values-based investing:
Values-Driven Ethical Investing: Now investors can align their investments with their values and select strategies that reflect the changes they want to occur to address the world’s most pressing issues. Newday contributes 5% of its fees to the causes represented by the portfolios.
Deeper Insight: Insight comes from deep research into the actual behavior of the entity rather than using 3rd-party databases to “check-the-box.” Newday Impact applies its unique, qualitative research to generate insight for use in its high-quality investment strategies.
Impact Through Community: Newday Impact partners with recognized impact leaders and caring citizens as we do more than invest to make the world a better place. Newday Impact realizes that collaboration between government, corporations, academia, faith-based institutions, and citizens are required to affect the transformational change required for substantive change.
Adding to Newday’s existing Impact Portfolios on its acclaimed digital impact investing platform, Magni strategies now include: EAFE, ACW ex U.S., Emerging Markets, Halakhic (Jewish), Islamic Stewardship, and Catholic Values.
Family offices, institutions, Registered Investment Advisors (RIAs), and accredited investors can access these strategies by working with Newday and the custodial platform of their choice; individuals can access the strategies through the Newday app.
Emergent VC, Authentic Ventures, University of Utah Venture Fund, Dunn Development have invested capital into Newday Impact as part of the acquisition. Combined assets will be approximately $200 million as of January 31st.
About Newday Impact:
Newday Impact is a leading provider of automated investment solutions focused exclusively on environmentally sustainable, socially responsible companies with good governance practices. We are a new paradigm for investing and banking, aligning profit with purpose literally from the inside out where each client understands the roadmap for how their dollars are contributing to the world that we live in. The Newday impact platform provides affordable, transparent, and easy to understand opportunities for individuals and institutions to invest responsibly. Newday’s clients are passionate about protecting our world and making it a better place, and clients have the comfort of knowing that their investment dollars are being invested wisely and in ways that are not harmful to the world.
About Magni Global Asset Management:
Magni is a leader in governance research on both countries and companies, focusing on the behavior of the entity. Governance is more than just the structure, rules, and regulations of the country or company. It is important to ascertain if the people in the company or country actually adhere to these factors. More importantly, it is about the values of the country or company and how it interacts with all its relevant constituents. This deeper and more insightful level of research is required to identify those entities that are most likely to endure over time and remain sustainable.