Impact investing, an emerging subset of socially responsible investing, offers a channel outside of formal public equity markets for investors seeking not only financial returns but social and environmental value. Impact investors are not necessarily targeting companies that engage in the best sustainable business practices in any given sector. Instead they seek out ventures in developing countries or inner city neighborhoods that provide solutions to urgent environmental and social challenges ranging from water and food scarcity to education, clean energy, affordable housing, resource depletion, and health care. IGNIA Partners, a new impact investment venture capital firm co-founded by Michael Chu, a former Kohlberg Kravis Roberts and Pegasus Capital partner, calls it “investing in the base of the pyramid.”

NYSSA is currently seeking member volunteers to help with our student programs that begin this Fall. As you know, NYSSA has a long tradition of nurturing professional competence, ethics and excellence, providing a foundation for the personal and professional growth of college students and the investment industry of tomorrow.

Michael McMillen’s recent course on Islamic Finance was more than just an introduction to this niche market of structured finance—it was a colorful exploration of Islamic history and culture, which included a memorable overview of the anatomy of camels. Despite the lack of industry news coverage in the U.S. as compared to Europe and Asia Pacific, I was amazed to learn that there have been hundreds of Islamic financings done in the U.S. In fact, as McMillen pointed out, the U.S. is the easiest place in the world to structure such transactions and while it is still a niche market, demand for these products continues to grow.

U.S. Healthcare Spending Appears Unsustainable
The U.S. spends twice the average of most other developed nations on health care for only comparable care, which has led many to question the efficiency of the U.S. health-care system. Further, the high health-care spending represents approximately 17% of U.S. GDP and has grown faster than GDP over several decades. These high costs--along with the desire for universal health-care coverage and the U.S. government's dwindling resources for funding health-care programs--are driving the calls for major health-care reform.

NYSSA and CFA Institute have awarded scholarships to five Level I candidates taking the December exam. Scholarship winners are a select group that meets strict criteria that take into consideration a number of factors, including experience and interest in the investment profession, adherence to ethical standards, financial need and commitment to NYSSA and CFA Institute. Scholarship recipients received awards valuing more than $2,000. NYSSA provided free registration and materials for the Weekly Review, and CFA Institute waived the CFA exam program fees (less a $220 administrative fee).

The Derivatives Committee provides a forum for investment professionals to learn more about the use and intricacies of derivatives. It offers content to both specialists in the derivatives markets and those professionals who are not currently involved but who wish to learn more. The Derivatives Committee seeks to educate and keep its membership informed on all aspects of derivatives and derivatives markets. As the use and importance of derivatives is increasing, the Committee is committed to educating and making derivatives markets more accessible to those with little or no direct experience.

It's one thing to learn the employer offered someone else the job you were hot for. It's another to learn you never even made the cut … because a purveyor of "artificial intelligence" screened out your resume.

In a world where seas of resumes are initially sorted by screening software, it's still possible to outsmart the machine on your way to the top of the heap. It just means a little more…well, thinking, on your part.

NYSSA is proud to welcome FTSE into the Leadership Circle as a Silver Sponsor.

FTSE is a world leader in the creation and management of indexes. With offices in Milan, Beijing, London, Frankfurt, Hong Kong, Madrid, New York, Paris, San Francisco, Sydney, Shanghai and Tokyo, FTSE works with investors in 77 countries globally.