Berkeley MBA students will manage a socially responsible investment fund for the first time this fall. The new Haas Socially Responsible Investment (HSRI) Fund came about thanks to a $250,000 gift from Charlie Michaels, BS 78, and his wife, Doris. Michaels is the president of Sierra Global Management, an investment management firm in New York City.
The fund will be managed by Berkeley MBA and Master's in Financial Engineering students with the advice of an investment advisory committee and a Haas School faculty advisory committee. Its investment philosophy will be to achieve a balance between financial and social or environmental performance.
Students will start investing when the fund reaches $500,000, a goal Kellie McElhaney, the executive director of the Center for Responsible Business, expects to reach within a few months. The center's ultimate goal is to raise the fund to $1 million.
Students managing the fund will be required to enroll in a new elective on socially responsible investing techniques that is being offered for the first time this fall. A group of students will also be chosen by a special committee to make investment decisions for the HSRI Fund's portfolio, taking on fund manager and portfolio analyst roles.