Maybe it really is different this time. A typical business cycle usually consists of an overheating economy followed by higher policy rates imposed by central banks. This eventually leads to a slowing economy, and in 6 out of the last 7 monetary tightening episodes in the U.S since 1970, the economy has fallen into recession. Higher lending rates slow consumption, leading to layoffs, which further slows consumption and more layoffs, and so on. However, this cycle has been different so far. When the Fed began raising interest rates in 2022 to fight inflation, the personal consumption response was much more muted than usual, thanks to previous emergency pandemic stimulus. The U.S. economy has slowed somewhat in response to tighter monetary policy, but employers have been mostly reluctant to implement significant layoffs with the fresh and painful memory of the 2020-2021 pandemic reopening when consumer demand rebounded sharply but employers had a hard time finding workers to satisfy demand. So-called “labor hoarding” has become a significant attribute of the current economic cycle, which has contributed to the relative strength in the labor market, consumption, and the economy in general.
Zevin Asset Management's Global Equity strategy has been named to the PSN Top Guns List of best performing separate accounts, managed accounts, and managed ETF strategies for Q2 2022. The highly anticipated list, published by Zephyr, remains one of the most important references for investors and asset managers.
Read our statement to learn more.
For the sixth year in a row, we have earned a place on the Best for the World lists within the Certified B Corporation community. Zevin Asset Management was named Best for Customers, scoring in the top 5 percent of all Certified B Corps, for our focus on serving clients as we help solve pressing social and environmental issues.
We have always felt it is important to hold ourselves to the same standards and scrutiny that we use when engaging portfolio companies and analyzing companies for potential investment. We have decided to divest from and cease further investment in direct Chinese and Hong Kong holdings for the foreseeable future.
Read our China divestment policy to learn more.
Zevin Asset Management’s president, Sonia Kowal, addresses criticism of sustainable investment in “Investing for Social Good and the Long View,” a letter published by The Wall Street Journal.
It is clear from the quickly expanding investing landscape that ESG strategies are not created equally and are often sustainable in name only. Real Impact Tracker distinguishes the authentic from the not so authentic, through its independent ranking and certification process that uses a peer-reviewed, data-driven methodology to analyze the impact strategies of public equity funds. We are proud that Real Impact Tracker (RIT) has recognized Zevin Asset Management as a leader among its peer investment managers in collaborative social impact engagement and advocacy.