Since the mass shooting at Marjory Stoneman Douglas High School in Parkland, Fla., that killed 17 in February, students across the nation have organized a school walk-out, planned the March for Our Lives rally against gun violence in Washington D.C., with another walkout scheduled for the anniversary of the Columbine massacre on April 20.
Pension funds, endowment funds, and foundations are taking a renewed look at their investments and whether they include gunmakers or even companies that sell guns. For clients already working to implement socially responsible investing (SRI) or environmental, social, and governance (ESG) mandates, screens in their portfolios, it's part of the course of regular portfolio review and asset allocation, said Debashis Chowdhury, president of Canterbury Consulting, an investment advisory firm with offices in Newport Beach, Calif., and Seattle, Wash.
Canterbury Consulting oversees about $18.5 billion in assets for more than 200 clients. About two-thirds of them are endowments or higher education and the other third are family foundations and family offices.
"Institutions are waking up to the idea that their funds can do good while doing well," Chowdhury said.