This is the audio version of my reading out the legal opinion that I wrote which Parry Field Lawyers has released this week on the 20th March 2024. It tackles the issue of large funds and trusts which have amounts they invest, often conservatively. It asks: do those in governance of such entities actually now have a positive duty to invest funds for impact?
I argue that they do for a variety of reasons. For example, because the new Trusts Act 2019 includes provisions which mean Trustees should consider the original purpose that the Trust was set up for when they go about investing. As well as that, some of their duties can be modified now which would allow them to invest for impact and advancing the purpose of their Trust.
The opinion also outlines the 9 practical realities that I think need to be considered as well – check them out too.
On the same day as releasing this am in conversation with Shamubeel Eaqub about impact investing – what it is, how it is growing and the impact for both business and charities. Watch out for that as a follow up episode.
Thanks to my wife Ellie Moe for reading the headings of the opinion in this episode.
All of this is a follow on from the successful Seeds Impact Conference that had 500 attend and 100 speakers, this is a one off session designed to stimulate both thinking and action.
The video will be uploaded afterwards at https://www.parryfield.com/impact-investing-information-hub/
For other episodes visit www.theseeds.nz
