Execs gather to promote ‘responsible investment’ in P.R.
Consultiva International CEO Myrna Rivera
Investing in Puerto Rico has become one of those polarizing topics that generate much controversy and distrust. In a quest to overturn that, a group of professionals will gather Feb. 23 to present models and opportunities for “impactful” local capital investments.
The event co-sponsored by Microjuris, a technology firm specializing in law and education, and Consultiva Internacional, will look to encourage economic development on the island through fresh perspectives on how to achieve that.
Myrna Rivera, CEO of Consultiva Internacional, said Puerto Rico has more than $40 billion in investment portfolios, of which 99 percent are invested in funds abroad.
Redirecting a small percentage of that could potentially push greater job creation in Puerto Rico versus other markets, she said.
“There are excellent opportunities for impactful investing in Puerto Rico,” she said. “This has manifested itself in the investment performance of various Puerto Rican institutions.”
“We need to highlight investment opportunities with economic and social viability on the island. Puerto Rico has the necessary capital to start making fundamental changes to return to the path of growth and development,” she added.
There are “countless investment opportunities” beyond government bonds that “besides being a source of income, are a mechanism to boost the local economy and contribute socially,” Cristina Esteves-Wolff, Microjuris spokeswoman said.
The seminar, which will take place at the Caribe Hilton Hotel, will also discuss the new U.S. Labor Department law the regarding investment and fiduciary responsibility, known as the Private equity funds Act, among other topics, organizers said.
“This continuing education seminar aimed at lawyers, is also a forum that will allow us to reach a wider professional audience and contribute to the discussion of positive issues,” said Esteves-Wolff. “For that reason, we will combine our knowledge and resources with the team of investment experts of Consultiva Internacional and other experts.”
Dedicating a “minimum” portion of the investment portfolio to purposes with dual benefits, financial and social, can generate expected performance, said Consultiva Investment Advisor Ernesto Villarini.
“Some entrepreneurs face funding problems to open new businesses or expand. They cannot see bank loans as the only response to that,” Villarini said.
“Therefore, during the seminar we will show possible vehicles to invest in Puerto Rican companies. We want to put to work a portion of Puerto Rico’s capital investment and this is the way to do this for the benefit of all parties,” Villarini added.
The activity aims to educate about the different methods through which institutions may invest responsibly in Puerto Rico.
“We want lawyers, entrepreneurs, investors and anyone who assumes a fiduciary responsibility, regain confidence and bet on local investment,” Esteves-Wolff said.
“That they see it as mechanism to generate equity, as well as an added value by contributing to the development of our business community,” she said.
For more information, visit www.aldia.microjuris.com.
