New Mexico Philanthropies and Investors Launch New Mexico Impact Investment Initiative
Groundworks New Mexico and the New Mexico Impact Investment Collaborative (NMIIC) have partnered with RBC Global Asset Management to create the Local Impact Fixed Income Targeted Investment New Mexico (LIFT NM), an impact investing initiative with an aim of supporting community development in the state of New Mexico. LIFT NM enables foundations and nonprofits with small and large endowments and other private and public investors to pursue geographically targeted, impact-driven investments providing market rate return and daily liquidity through an institutional mutual fund investing publicly traded securities. These investments can support homeownership, job creation, small business growth, access to affordable rental housing, healthcare, and other resources that support development in New Mexico.
The newly created impact investing initiative is launching with an initial $11 million commitments from Anchorum St. Vincent, Christus St. Vincent and the McCune Charitable Foundation, which will be made through the Access Capital Community Investment Strategy, a fixed income bond investment strategy managed by RBC Global Asset Management.
The partnership allows New Mexico investors to come together and focus their investments in specific communities that are important to them.