“The Turner Impact Portfolio Challenge serves as a beacon of hope for a more equitable and sustainable future.” – Dean Erika James

Increasingly, institutional investors are seeking to make impact across asset classes: venture capital, public equities, fixed income, alternatives, and more. Enter the Turner Impact Portfolio Challenge (TIPC).

Now in its sixth year, TIPC is a year-long, graduate student ESG investing competition produced by the ESG Initiative at the Wharton School and supported by naming sponsors Bobby and Lauren Turner and founding corporate sponsor Bank of America.

Hundreds of students gather at Wharton’s Huntsman Hall for a full day of programming. (Image: Shira Yudkoff Photography)

This year, 175 students spanning over 40 teams from 16 universities across the U.S. participated in total. These students join hundreds of TIPC alumni across the country who have completed the program.

And the Winner is…

Michaela Flynn, Chase Johnson, Mai Kruvi, and Kendall Thompson from Bard College won the competition with a portfolio that aimed to meet the financial, decarbonization, and impact goals of the pension fund through activist positions in utilities, shareholder advocacy, and a gender lens when selecting assets and asset managers.

Judges for the 2024 competition included Nicholas Ashburn (Head of Responsible Investing and Managing Director, AMG Investment Office at PNC Bank), Mary Stokes (Managing Director and Institutional Market Investment Executive, Institutional Investments at Bank of America), and Bonnie Treichel (Chief Solutions Officer at Endeavor Retirement).

This story is by Emma Davis. Read more at Wharton’s Environmental, Social, and Governance (ESG) page here. 

Posted: July 2, 2024

The Wharton School

The Process

Each year, the program invites student teams to put theory into practice and incorporate ESG factors in portfolio construction. This year’s cohort was tasked with transitioning a fictional state pension fund portfolio to net zero by 2050; maximizing ESG impact; and maintaining the fund’s strong investment performance.

Prof. Tyler Wry (left) and Bobby Turner, W’84, (right) kick off the finals event with a keynote address and fireside chat. (Image: Shira Yudkoff Photography)

“Many business school students will go on to work in portfolio management,” said Bobby Turner, W’84, sponsor of TIPC. “Their ability to understand impact and ESG factors in their investment analysis makes them desirable hires for businesses where these factors are of growing importance.”

The student teams spent the academic year identifying specific securities, funds, and investments to include in their client’s portfolio. In addition, they were charged with demonstrating how the portfolio meets the pension fund’s impact goals, financial return goals, target asset allocation, and risk tolerance.

Read More Stories