Our Global
Impact
At New York Life Investments, we draw upon deep domain expertise to help clients reach their specific financial goals. With the same autonomy and perspective, our businesses are empowered to integrate ESG considerations into their investment approaches in the ways most relevant to their clients, asset classes, and geographies.
We invite you to see their progress and hear from the leaders charting the way forward.
Apogem Capital7
New York, NY
Newly unified alternatives investment firm with capabilities spanning private credit, private equity, GP stakes, private real assets, and long/short equity.8
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“The alternatives space is always evolving. By combining our expertise, Apogem is now uniquely positioned to identify and pursue ESG-related opportunities in alternatives.”
Chris Stringer
Interim CEO and Head of Private Equity, Apogem
A Stronger Way Forward, Together
On April 1, 2022, New York Life Investments announced the formation of Apogem Capital (Apogem), a newly unified alternatives investment firm with capabilities spanning private credit, private equity, GP stakes, private real assets, and long/short equity, with AUM of approximately $37 billion.9 Apogem is the combination of three previously existing alternative investment boutiques affiliated with New York Life: GoldPoint Partners, Madison Capital Funding, and PA Capital. Apogem remains a wholly owned subsidiary of New York Life.
The Social Advancement Strategy
In 2021, PA Capital, in collaboration with GoldPoint Partners and Madison Capital Funding, launched the Social Advancement strategy. The strategy is focused on investing with diverse, emerging managers across buyout and growth equity strategies in the lower and middle markets in North America.
The Social Advancement Strategy’s goal is to connect diverse managers with capital, both as a fund investor (~80%) and a co-investor (~20%).10
Ausbil11
Sydney, Australia
Boutique with expertise in active management. Capabilities across Australian equities and global small cap, natural resources, and listed infrastructure.
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“As world citizens and stewards for our clients, we know we can’t afford to stand on the sidelines. We’re taking the actions that are needed.”
Måns Carlsson, OAM
Head of ESG Research
Ausbil
Leading the Fight Against Human Rights Abuses
Deeply committed to advancing human rights and combatting modern slavery, Ausbil has used its leadership position within the Australian investment management industry to champion positive change in these areas. (Among other practices, modern slavery can include human trafficking, slavery, servitude, forced labor, and the worst forms of child labor.)
Ausbil was the sole investment firm appointed to a panel of experts to assist the Australian government in writing guidance for the Australian Modern Slavery Act of 2018. This pioneering legislation requires Australian companies with annual consolidated revenue of at least AUD$100 million to report the modern slavery risks within their organizations and maintain responsible and transparent supply chains. Ausbil now sits on an advisory group that has assisted the Australian government with effective implementation of the act.
As a result of Ausbil’s participation in the development and implementation of this effort, Måns Carlsson, Ausbil’s Head of ESG Research, was awarded a letter of commendation from Anti-Slavery Australia in 2019 and an Order of Australia Medal (OAM) in 2022.
Advocacy Through Action
Each year, Ausbil publishes its Ausbil Annual ESG Advocacy and Engagement Report outlining its ESG initiatives.
In 2021, Ausbil undertook ESG-related engagements with companies on over 175 occasions, addressing topics such as climate change, human rights and modern slavery, gender diversity, corporate culture, and more.
Candriam
Luxembourg, Belgium, France, UK
A pioneer in sustainable and responsible investing since 1996, Candriam is a global multi-specialist asset manager focused on fixed income, equity, thematic investing, asset allocation, absolute return strategies, and liability-driven investing for pensions and insurers.
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“Building a sustainable world for future generations requires concerted global action and the mobilization of vast sums of both private and public capital. At Candriam, we have been invested in this journey for more than 25 years and remain fully committed to the path ahead.”
Naïm Abou-Jaoudé
CEO
Candriam
Environmental Sustainability
For over 15 years, Candriam’s ESG analysis has embedded climate mitigation and adaptation across its sustainable investment strategies. Candriam has been measuring and disclosing the carbon footprint of its sustainable funds for several years and has reduced the footprint of these strategies by at least 30% on average, relative to the market, with many funds going even further.
In 2021, Candriam committed to a 50% reduction in greenhouse gas emissions across a significant share of its investment portfolio by 2030 and will pursue net-zero emissions of its investment portfolio by 2050 or sooner. In addition, the firm also became a signatory to the Net Zero Asset Managers Initiative.
€2.9 million
Donations in 2021 by the Candriam Institute for Sustainable Development
IndexIQ
New York, NY
Pioneer and leading provider of exchange traded funds (ETFs), granting investors access to innovative solutions designed to deliver a smarter approach to traditional investing.
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“Our mission is to do well for our clients while doing good for the world.”
Wendy Wong
Managing Director
Head of Sustainable Partnerships
NYLIM
Me-Focused Returns and We-Focused Social Good
IndexIQ developed the IQ Dual Impact ETF suite to address values-centered investment needs and the greater needs of our shared society. Composed of stocks from companies whose operations contribute to the advancement of each fund’s theme, the Dual Impact ETFs provide investment opportunities informed by market trends and consumer behaviors.
Recognizing that change can be better affected through collective action, each IQ Dual Impact ETF aligns with a well-known, established nonprofit organization to support environmental and social causes. IndexIQ and New York Life Investment Management LLC are supporters and donors to each nonprofit. Four Dual Impact ETFs were launched in 2021.
Dual Impact ETFs12
Launched January 2021
Launched October 2021
Click on the fund name link which includes the prospectus, investment objectives, performance, risk, and other important information. Visit newyorklifeinvestments.com/etf for more complete information.
HART wins top prize in Wealth Management Industry Awards – New Product Development category13
Kartesia14
Luxembourg
European specialist provider of private capital solutions for small and mid-sized companies.
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Kartesia strongly believes in its power to ignite change and accompany invested companies in their contribution to a better society, on a healthier planet.
Assessing, managing, and acting on ESG issues are central to Kartesia’s investment philosophy and process. ESG is integrated into Kartesia’s organization, with all employees playing an active role. The firm has a centralized ESG department, which is responsible for the firm’s ESG strategy. Since its founding, Kartesia has been improving upon its own sustainability credentials and reporting. For more information on Kartesia, please see its 2022 Sustainability Report.
Kartesia has a long-standing commitment to minimizing the firm’s environmental impacts. The firm has been working to reduce its carbon emissions on a yearly basis since 2018.
MacKay Shields15
US, Ireland, UK
Boutique offering a range of fixed-income strategies including investment-grade high yield, bank loans, and municipals as well as fundamental equities.
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“We strive to be purpose-driven and values-led. ESG is an important consideration in our analysis of investment opportunities and how we serve our clients.”
Jeff Phlegar
CEO
MacKay Shields
Partnered with Communities
As investment managers and citizens, MacKay Shields understands it has a responsibility to contribute to the well-being of the communities in which it operates and where employees live.
MacKay Shields and its employees have engaged in annual fundraising campaigns and volunteered with organizations with missions such as financially empowering young people in underserved communities and providing food security for the elderly and underserved.
Responsible Service
As COVID-19 swept the globe, MacKay Shields employees prioritized giving and serving, positively affecting local communities. Some of the organizations supported include Invest in Girls, Fresh Air Fund, and God’s Love We Deliver. Additionally, in partnership with New York Life, MacKay Shields has worked with organizations such as the NAACP Legal Defense Fund and The Eagle Academy Foundation.
Integrated ESG
In partnership with IndexIQ and in response to evolving client needs, in 2021 MacKay Shields successfully launched the IQ MacKay ESG Core Plus Bond ETF (ticker: ESGB).16 This new offering reflects an actively managed strategy that seeks total returns by investing in a broad portfolio of fixed income securities with ESG criteria integrated into the security selection process.
Click on the fund name link which includes the prospectus, investment objectives, performance, risk, and other important information. Visit newyorklifeinvestments.com/etf for more complete information.
In 2021, MacKay Shields, in partnership with Kirstein,17 surveyed 66 institutional investors in Europe and the U.S. to clarify what institutional investors want from their fixed income managers and whether the market is moving toward a homogenous approach to sustainable investing. Read the report to learn more.
NYL Investors
New York, NY
Provides investment management and financing solution for New York Life and our valued strategic partners, focused on fixed income and real estate.
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“The structural inclusion of ESG factors into our analysis is at the core of our responsible investment integration efforts and provides a consistent framework to assess risks and opportunities.”
Ryan Fox
Senior Director
Head of ESG
NYL Investors
NYL Investors’ commitment to responsible investing is governed by its ESG Executive Committee, which includes select senior leaders of the organization — including the CIO of New York Life Insurance Company — to shape the strategy and provide oversight of the firm’s responsible investing practices. An ESG task force is also actively supporting NYL Investors as it evolves and executes its ESG integration strategy. This task force is composed of a cross-section of asset class portfolio managers and dedicated ESG team members. Additionally, NYL Investors has recently created two new positions, a Head of ESG and an ESG Coordinator, to lead the ongoing development and execution of NYL Investors’ ESG strategy.
In addition to the establishment of dedicated resources and a governance structure, NYL Investors has implemented enhancements to its investment due diligence process. ESG factors are integrated into the bottom-up research that informs investment decisions (excluding cash and U.S. Treasuries). A customized scorecard has been developed to quantitatively assess how ESG factors may affect a company. As of the end of 2021, more than 4,000 holdings now feature an ESG score, with this enhancement still actively being deployed across the portfolio.
More than 4,000 holdings now feature an ESG score.
New York Life Investment Management LLC (NYLIM LLC)
New York, NY
New York Life Investment Management LLC (NYLIM LLC) is the advisor to the MainStay Funds, offering investment strategies managed by affiliated boutiques and unaffiliated sub-advisors.18
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“As ESG continues to grow in scope and importance, we want to be able to offer innovative strategies that can help investors achieve their goals, from both a financial and values-based perspective.”
Eunie Popp
Head of U.S. Sustainable Investing
NYLIM
In addition to ETFs managed by IndexIQ, New York Life Investments’ U.S. retail business includes investment vehicles for U.S. clients through the MainStay mutual funds family and Separately Managed Accounts (SMAs), which are managed by New York Life Investment Management LLC (NYLIM LLC).
From an ESG perspective, our U.S. retail businesses are guided by an ESG Governance Council, comprised of senior management — including the CEO of NYLIM — which is responsible for overseeing the firms’ commitment to the principles of the PRI and gives strategic guidance to ESG efforts.
MainStay: Innovative ESG Strategies
Across the MainStay mutual fund family, affiliated and unaffiliated subadvisors to the funds are given the autonomy to integrate ESG factors into their investment process in different ways, applying their own expertise. During the selection and monitoring process, New York Life Investment Management LLC works with subadvisors to understand how ESG is integrated into their investment decision-making.
New York Life Investment Management LLC’s thematic strategies seek to capitalize on opportunities by investing in ESG-related themes. Some of these offerings include:
Thematic SMAs
Candriam Global Climate Action Equity ADR SMA: Seeks to create a diversified, quality growth portfolio that includes investing in future leaders who are taking action against climate change
Candriam Global Oncology Impact Equity ADR SMA: Uses a science-driven research process that supports the development of a wide range of cancer diagnostics and treatments, with a portion of management fees donated to the American Cancer Society
At the end of 2021, 73% of the assets managed under the MainStay mutual fund family integrated ESG factors in their investment analysis.19
Tristan20
London, UK
Real estate investment management company specializing in a wide range of property types across the UK and continental Europe.
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Tristan’s core values of performance, teamwork, partnership, trust, and integrity support the firm’s commitment to embedding best-in-class ESG standards and practices at the fund and asset level.
The firm uses the GRESB framework, a best practice for real estate. In 2021, Tristan saw an average rating increase of 34% across all funds, four of which achieved a four-star rating. Overall, Tristan funds outperformed the GRESB benchmark and peer group averages in both management and performance. In 2021, Tristan worked with its network of operating partners and initiated more than 50 new green building certifications, including Building Research Establishment Environmental Assessment Methodology (BREEAM), German Sustainable Building Council (DGNB), Leadership in Energy and Environmental Design (LEED), the WELL Building Standard (WELL), and Fitwel.
50+
new green building certifications initiated by Tristan
