Introduction
Introduction
What does sustainable investing1 mean to New York Life Investment Management?
Our multi-boutique family of asset managers - with solutions as diverse as the clients we serve - utilize a comprehensive approach in an effort to build better financial futures. As a fiduciary, our foremost responsibility is to act in the best interest of our clients. This means diligently evaluating relevant factors, which may include sustainability-related considerations, to meet client objectives of maximizing risk-adjusted returns. Each boutique applies its own data-driven approach to responsible investing, using these insights to identify opportunities, manage risk, and support the diverse objectives of our global client base.
A comprehensive approach to investment management
Recognizing how these factors relate to investment value can support efforts to unlock opportunity and thoughtfully manage risk. Across New York Life Investment Management, we believe that this comprehensive approach to investment management can deliver long-term value over the market cycle, effectively weathering short-term trends. As sustainable investing continues to evolve, we remain anchored by our fiduciary duty and aim to create lasting value for our clients.
1The terms “responsible investing” and “sustainable investing” are used interchangeably. They refer to an investment approach that considers sustainability-related factors alongside other factors. This approach may differ depending on materiality, strategy, asset class, or client preferences.
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Sustainability Report
2024 Sustainability Report
New York Life, our parent company, has a long history of investing in the future. Sustainability is inherent in its business as the company must be viable for the long term to be there for its policy owners. These values are shared by New York Life Investment Management and encompass our employees and the communities we serve.
At New York Life Investment Management, our mission is to empower clients to achieve their goals while building a better financial future. We invite you to explore the individual stories and achievements of each boutique as we navigate the evolving landscape.
Education
Education
Continue Your Education
Join Candriam Academy, the world’s first free-to-access accredited training platform for ESG investing. As of December 2023, Candriam Academy has over 14,500 members across 79 countries and is now accessible in Japanese.
Take your learning a step further with our ESG Talks educational webinar series. Join industry experts and our community of learners to take stock of some of the most pressing economic, social and environmental issues of our time.
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Our Boutiques
Our Boutiques
Our Boutiques’ Approach to Sustainable Investing
New York Life Investment Management’s multi-boutique structure empowers each firm to leverage their deep expertise to offer solutions that best suit their clients, asset classes, and the regions they invest in.
Each boutique is a signatory to the United Nations’ Principles for Responsible Investment (PRI) and aims to incorporates ESG factors into investment decisions and stewardship activities where possible.
Apogem Capital (Apogem) is a leading, muti-strategy alternatives investor that offers investors access to the middle market’s growth engine through investments in established private companies and funds. Apogem’s focus on the middle market and emphasis on business building is strongly aligned with responsible investing principles. Across Apogem’s strategies, the consideration of responsible investing characteristics and sustainability risks and opportunities is integrated into our overall investment approach.
Andera Partners is a leading European private markets investment firm specializing in middle-market and growth private equity, mezzanine debt, life sciences, venture capital, and energy transition infrastructure. The firm integrates ESG considerations throughout its investment lifecycle, leveraging structured due diligence, active portfolio engagement, and a strong focus on decarbonization and sustainable value creation to support long-term performance and responsible growth.
Apogem Capital (Apogem) is a leading, muti-strategy alternatives investor that offers investors access to the middle market’s growth engine through investments in established private companies and funds. Apogem’s focus on the middle market and emphasis on business building is strongly aligned with responsible investing principles. Across Apogem’s strategies, the consideration of responsible investing characteristics and sustainability risks and opportunities is integrated into our overall investment approach.
Ausbil Investment Management Limited (Ausbil) is a leading Australian investment manager. Established in 1997, Ausbil’s core business is the management of Australian and global equities for superannuation funds, institutional investors, master trusts, and retail clients. Ausbil maintains commitment to upholding human rights and preventing modern slavery risks across its investment portfolios.
Candriam, a pioneer in sustainable and responsible investing for more than 25 years, is a global, multi-specialist asset manager headquartered in Luxembourg. A founding signatory of the UN PRI charter in 2006, the firm’s focus and dedication to drive progress and identify sustainable opportunities for investors is embedded in its name, which stands for Conviction AND Responsibility In Asset Management.
Kartesia is a European investment management firm that specializes in financing small- and mid-market European companies. Led by the founding managing partners, the firm has offices across Europe and relies on a team of approximately 100 experienced professionals across investment and operating divisions to operate its business. Kartesia is committed to establishing market-leading responsible investment practices across its organization.
Founded in 1938, MacKay Shields LLC joined New York Life in 1984 and has grown to become a global asset management boutique focused on fixed income investing. MacKay Shields believes that consideration of financially material ESG factors can have an impact on long-term investment performance and, therefore, is a natural component of disciplined investment research that aims to deliver on client objectives across risk, return, and responsibility.
NYL Investors is a wholly owned investment subsidiary of New York Life and is responsible for managing the vast majority of New York Life’s General Account. NYL Investors became a PRI signatory in 2020 and remains committed to evolving its responsible investing practices and supporting the sustainability goals of the enterprise.
Tristan Capital Partners (Tristan) is a real estate investment management company headquartered in London, specializing in a range of property types across the UK and Europe. Tristan’s core values of performance, teamwork, partnership, trust, and integrity support the firm’s commitment to integrating sustainability standards and practices at the firm, fund, and asset level.
Kartesia is a European investment management firm that specializes in financing small- and mid-market European companies. Led by the founding managing partners, the firm has offices across Europe and relies on a team of approximately 100 experienced professionals across investment and operating divisions to operate its business. Kartesia is committed to establishing market-leading responsible investment practices across its organization.
National and State-specific Strategies Across the Income and Risk Spectrum
This is a hypothetical illustration showing relative potential risk and yield. Risk based on standard deviation. *National muni tax-equivalent yield based on 40.80% tax level (37% highest federal tax bracket plus the 3.8% Medicare surcharge). CA and NY muni tax equivalent yield based on the blended rates derived from a top federal income tax rate of 37%, the 3.8% Medicare tax, top state income tax rates of 8.82% and 13.30% in New York and California, respectively. Past performance is no guarantee of future results, which will vary. All mutual funds are subject to market risk and will fluctuate in value. Corporate High Yield Bonds index is represented by the Bloomberg Barclays High-Yield Corporate Bond Index. The U.S. Corporate bond index is represented by the Bloomberg Barclays U.S. Corporate Bond Index. The U.S. Treasury index is represented by the Bloomberg Barclays U.S. 1-3 Year Government/Credit Index. The U.S. Aggregate bond index is represented by the Bloomberg Barclays U.S. Aggregate Bond Index.
Sustainability Investing Risk Disclosure
All investments involve risk, including possible loss of principal. Strategies that incorporate sustainability-related factors may limit investment opportunities and could underperform strategies that do not consider such criteria.
There is no guarantee that sustainable-investment approaches will be successful or achieve their intended goals. Sustainability-related factors are subject to interpretation, may vary across investment managers, and may not reflect the views or values of all investors.
Investors should consider whether a sustainable investment strategy aligns with their individual objectives and risk tolerance before investing.
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