Calvert Research and Management (Calvert) revealed that Morgan Stanley Investment Management (MSIM) has made its first commitment of $25,000 to America Needs You (ANY), an organisation dedicated to promoting economic mobility among first-generation college students.
Over the last 15 years, ANY has mentored and provided career development training to over 6,000 students, with 90% completing internships, 90% graduating, and over 80% finding full-time employment.
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The donation is a part of MSIM’s yearly endeavour to support organisations that promote diversity, equality, and inclusion by contributing funds from its own reserves in relation to the Calvert US Large-Cap Diversity, equality, and Inclusion Index ETF.
The goal of CDEI is to monitor the performance of the Calvert US Large-Cap Diversity Research Index, which is made up of common stocks of big enterprises that follow the Calvert Principles in running their operations.
Backed by Calvert’s in-house research, CDEI provides investors with exposure to businesses that Calvert feels are handling diversity, equity, and inclusion concerns well.
The MSIM ETF platform was introduced in 2023 and now offers six ETFs under the Calvert brand. CDEI is one of them.
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By GlobalDataOther products include seven Eaton Vance-branded fixed income strategies, one hedged equity strategy under the Parametric brand, and one alternative income strategy using the Parametric brand, for which MSIM acts as investment adviser.
Von Hughes, managing director and head of Calvert expressed: “We believe that a more diverse workforce provides a wider range of viewpoints, backgrounds and skills and positions companies for greater long-term success. We are pleased that investor interest in CDEI created an opportunity to support ANY in its mission of providing transformative mentorship, career development and broad support for first-generation college students and recent graduates to increase workplace diversity across industries.”
