Investor-Corporate Engagement | Report
21 February 2019 - Roadmaps have a proven record at leading companies, and evidence suggests that the majority of investors (especially long-term investors) prefer this approach. By focusing on key elements of performance such as competitive advantages, long-term objectives, and a strategic plan matched with clear capital allocation priorities, companies can build buy-in among long-term investors who support a focus on long-term value creation. Survey after survey indicates that investors prefer forward-looking, long-term guidance around a company’s strategy and expected performance. This paper, which represents the collective effort and experience...
Investor-Corporate Engagement | Toolkit
21 February 2019 - Benefits of a long-term roadmap: Gives existing shareholders what they want Attracts long-term investors by using long-term language Acts as a deterrent or buffer against activist attacks More accurately shapes a company’s valuation Provides strategic clarity to internal audiences
In the News
15 February 2019 - A new paper by Focusing Capital on the Long Term (FCLT) acknowledges that investors typically have competing time frames while most of the tools for risk and performance management are for only one investment period. The paper, Balancing Act: Managing risk across multiple time horizons, gives investors, from boards to investment personnel, much-needed practical tools and processes to address this issue successfully.
Video
6 February 2019 - Sarah Williamson discusses focusing capital on the long term with Amanda Lang of Bloomberg Markets.
In the News
6 February 2019 - Sarah Williamson discusses focusing capital on the long term (16:00) with Amanda Lang of Bloomberg Markets. Co-anchored by Amanda Lang in Toronto and Shery Ahn in New York, Bloomberg Markets delivers the most important global business and breaking market news as it happens.
Article
4 February 2019 - The debate no longer concerns why organizations should be longer-term, but rather how they can accomplish it.
Report
1 February 2019 - By some accounts, public markets are out of fashion. Detractors point to the decline of IPOs in developed economies and the growth of private capital pools over the last few years. But these trends tell only one side of the story. Private markets are doing well, but their success does not suggest the decline of public markets.
Press Release
1 February 2019 - Boston, MA, 31 January 2019 – FCLTGlobal, a not-for-profit organization that advocates for a longer-term focus in business and investment decision-making, has released a new report highlighting the benefits of public markets on long-term value creation. The report, Public Markets for the Long Term: How Successful Listed Companies Thrive, explores the rise of private capital and the presence of these markets alongside traditional public markets. Today, private capital stands at record levels and the success of venture capital-funded unicorns suggests to some that public markets are outdated. A closer...
In the News
1 February 2019 - How about better multiple time-horizon investing? A recent paper* by Focusing Capital on the Long Term (FCLT) injects a dose of self help into the long-horizon investing discussion. It recognises that few investors can focus solely on the long term, and shorter time horizons exist in parallel. Even large institutional investors can have collective behavioural biases around long-term investing. They may be subject to short-term pressures that make sticking to long-term decisions difficult.
In the News
30 January 2019 - From my backseat driver vantage point, Fink long ago saw the light regarding what ails society and the leaders who are at the helm of for-profit organizations. There is a blinding fixation on putting profits ahead of purpose. Indeed purpose seems to have been forgotten or worse ignored. Senior leaders—and arguably a for-profit organization’s board of directors—continue to operate with their head in the sand. Fink’s annual letter to CEOs points this out admirably.
In the News
25 January 2019 - Asset owners with a long-term time horizon are not immune to short-term pressures, according to a new publication from FCLT Global. The 30-page publication – ‘Balancing act: managing risk across multiple time horizons’ – addresses the challenge of managing multiple-horizon portfolios such as pension plans, sovereign wealth funds and endowments, by outlining why such management is important.
Press Release
9 January 2019 - Boston, MA, 9 Jan 2018 – FCLTGlobal, a not-for-profit organization that encourages a longer-term focus in business and investment decision-making, has released its newest publication, Balancing Act: Managing Risk across Multiple Time Horizons, which proposes new approaches for asset owners to manage investment risk across multiple time frames. Long-term funds, such as pension plans, sovereign wealth funds, and endowments manage their portfolios decades or more into the future. They are also required to meet expectations in the near term in order to continue with their investment strategy and...