World's Richest People Warned Against Impact Investing - Billionaires Australia: "The World Economic Forum (WEF) has told millionaires and billionaires around the globe to be cautious of the hype about investments that combine making profits with having a positive effect on society.
It has become increasingly popular for wealthy families and money managers to channel their funds into projects such as this. However, the WEF fears that if the impact investment bubble bursts, lots of the world’s wealth could be lost.
The warning was issued in a report released on Thursday (4 December) to mark the start of a forum for wealthy heirs, which is being held in Davos, Switzerland. The WEF paper said that the move towards dual-purpose investments is risky because it often involves giving money to people or organisations that rarely have the expertise or tools to put it into practice."
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Thursday, December 11, 2014
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