Calvert Research and Management, established in 1976, is an investment management company that is headquartered in

Washington, DC Washington, D.C., formally the District of Columbia and commonly known as Washington or D.C., is the capital city and Federal district of the United States, federal district of the United States. The city is on the Potomac River, across from ...

, and led by John Streur, the firm's President and Chief Executive Officer. Calvert is one of the largest responsible investment companies in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

History

In 1976, Calvert's co-founders, Wayne Silby and John Guffey, launched the first variable rate fund in the US before introducing the Calvert Social Investment Fund (CSIF) in 1982. The Calvert Social Investment Fund (CSIF) was the first

mutual fund A mutual fund is an investment fund that pools money from many investors to purchase Security (finance), securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in ...

to oppose

Apartheid Apartheid ( , especially South African English: , ; , ) was a system of institutionalised racial segregation that existed in South Africa and South West Africa (now Namibia) from 1948 to the early 1990s. It was characterised by an ...

, and then one of the first groups to reinvest in free

South Africa South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic O ...

in 1994. In 1986, Calvert became one of the first mutual fund groups to sponsor a shareholder resolution. Calvert filed with the Angelica Corporation, identifying the potential financial impact of labor management issue. Calvert Investments founded the Calvert Foundation, a separate 501(c)(3) nonprofit, in 1988. The goal of the foundation is to invest directly in underserved communities. In 1992, Calvert launched World Values Fund, the first International SRI mutual fund. Calvert also started a Special Equities Program for high impact social ventures. At the time, this program was one of the first of its kind in the responsible investing field. In 1998, Calvert pursued an advisory opinion from the

U.S. Department of Labor The United States Department of Labor (DOL) is one of the executive departments of the U.S. federal government. It is responsible for the administration of federal laws governing occupational safety and health, wage and hour standards, unem ...

in support of the

inclusion Inclusion or Include may refer to: Sociology * Social inclusion, action taken to support people of different backgrounds sharing life together. ** Inclusion (disability rights), promotion of people with disabilities sharing various aspects of lif ...

of sustainable and responsible investment options in defined contribution plans. In a letter to Calvert, the Department of Labor stated that it believes sustainable and responsible investment options are not inconsistent with fiduciary standards. In 2000, Calvert introduced The Calvert Social Index (renamed Calvert US Large Cap Core Responsible Index in June 2015), which is an unmanaged index that measures the performance of large, U.S.-based sustainable and responsible companies. Calvert began expanding the number of investment

strategies Strategy (from Greek στρατηγία ''stratēgia'', "troop leadership; office of general, command, generalship") is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. In the sense of the "art o ...

offered that addressed global sustainability challenges through favorable investment opportunities. In 2007, Calvert created the Global Alternative Energy Fund, an actively managed SRI fund. The Global Water Fund followed in 2008, and in 2011, Calvert launched the Emerging Markets Equity Fund. Calvert expanded its fixed-income mutual funds in 2013 with the launch of Calvert Green Bond Fund. John Streur was selected as Calvert's next CEO in 2014. In 2015, Calvert launched the Principles for Responsible Investment, which the firm uses to guide investment decisions, balancing a commitment to the needs of financial and non-financial stakeholders. Calvert's passive indices include companies on the basis of these principles and the results of a comprehensive research system, while Calvert's active investment strategies give priority to the principles as they seek superior risk adjusted financial returns relative to market benchmarks. In conjunction with the Principles for Responsible Investment, Calvert's research system developed an innovative, new method by coupling increasingly available ESG data and classic

financial analysis Financial analysis (also known as financial statement analysis, accounting analysis, or analysis of finance) refers to an assessment of the viability, stability, and profitability of a business, sub-business, project or investment. It is per ...

. The Calvert Research System allows the firm to quantitatively rate and rank companies both inside their respective industry and across the entire investment universe in absolute terms. Calvert Investment Management (CIM) was purchased by

Eaton Vance Eaton Vance Corp. is an American investment management firm based in Boston, Massachusetts. It is one of the oldest investment companies in the United States, with a history dating back to 1924. Through five primary investment affiliates, Eaton V ...

in 2017 and was replaced with Calvert Research and Management (CRM). In 2021,

Morgan Stanley Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients in ...

announced it was purchasing Eaton Vance for $7 billion. The deal was completed on March 1, 2021.

The Calvert Foundation

The Calvert Foundation was founded in 1988 and is a

Community Development Financial Institution A community development financial institution (US) or community development finance institution (UK) - abbreviated in both cases to CDFI - is a financial institution that provides credit and financial services to underserved markets and populations ...

(CDFI). Though the Calvert Foundation has a close relationship with Calvert Investments, the Foundation is a legally separate organization with its operations and mission. Today, the Calvert Foundation works in approximately 80 countries in varied sectors such as

affordable housing Affordable housing is housing which is deemed affordable to those with a household income at or below the median, as rated by the national government or a local government by a recognized housing affordability index. Most of the literature on ...

development,

microfinance Microfinance consists of financial services targeting individuals and small businesses (SMEs) who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; saving ...

, women's empowerment, fair trade and sustainable agriculture.

References

{{DEFAULTSORT:Calvert Research and Management Financial services companies established in 1976 Investment management companies of the United States Ethical investment 2017 mergers and acquisitions