New BRT Head Backs Stakeholder Capital...JUST Capital ETF Continues to Perform

Emphasizing the link between the implementation of stakeholder management principles and financial results, the new CEO of the Business Roundtable doubles down on the organization’s commitment to stakeholder capitalism around the same time that the JUST Capital ETF based on its principles continues to outperform its benchmarks.

Stakeholder Capitalism Makes Sense Based on How Its Implemented
JUST Capital Fund Continues to Outperform Its Benchmark

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While many CEOs have backed off flag-waving about stakeholder capitalism principles after it became entangled in the “woke” controversy, the incoming chair of the Business Roundtable, Chuck Robbins, CEO of Cisco, recently reiterated to outgoing Fortune publisher Alan Murray the organization’s commitment to stakeholder capitalism, based on addressing legitimate concerns.

Stakeholder Capitalism Makes Sense Based on How Its Implemented

“I still think it’s important. What I struggle with is the following: If we create an environment that’s good for our employees, that’s a good thing. If we create an environment that creates healthy communities, that’s a good thing. If we also create an environment that has positive returns for our shareholders, positive outcomes for our customers, positive outcomes for our partners, what’s bad about that? I just don’t understand. No, I think the question of how you go about it is what’s being challenged, and the question of quotas and things of that nature, I think are legitimate discussions to have. But focusing on ensuring that, I mean our purpose statement as a company is to power an inclusive future for all. And we live it, and we believe it, and we walk it and it’s through our technology where we connect people around the world who have never been connected before, and they find themselves with an opportunity to be educated, to actually receive certain types of health care to, and now after the pandemic, they can actually get jobs where they are and work from where they are. And then the community service stuff that we do, we think, why would we not want a healthy community?”

JUST Capital Fund Continues to Outperform Its Benchmark

The JUST US Large Cap Diversified Index (JULCD) has out-performed the Russell 1000 (cap-weighted) benchmark by 0.35% year-to-date and by 10.7% since its inception, the organization reports. Additionally, the JUST 100 (equally weighted index) has outperformed the Russell 1000 (Equally-Weighted) index by 4.47% year-to-date and by 43.46% since its inception.

According to the report, three of the five stakeholders tracked delivered positive performance in the first quarter, it says: the Communities stakeholder delivered the strongest performance over this period with a long-short spread of 5.19%, while the Customers stakeholder fared most poorly at -2.73%. Within the Workers stakeholder, outperformance was driven by the top decile whereas for Communities & Shareholders & Governance stakeholder outperformance was driven by both deciles. For the Customers stakeholder, underperformance was driven by both deciles whereas for Environment stakeholder negative contribution was driven by bottom decile.”

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