Over two weeks ago, I posted a poll asking whether impact investing should be considered an “asset class”. The fact that the results currently come in at 60/40 (after many votes) in favor of NO asset class belies the considerable debate that has surrounded this topic both on this blog and other online forums. I am still a bit surprised about how many people have weighed in on a question that would appear to be mostly a technicality… but is it really just that?
Without being able to do justice to the many, many arguments constructed in favor and against the “asset class” question, I would like to take a moment to restate my understanding of what people have said on this topic. Then, in a broader sense, I hope to convert part of this controversy into something of meaning and, in typical fashion for this blog, will attempt to identify what really is at stake at the end of the day in dealing with this question.