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Emerging Domestic Markets
Emerging Domestic Market Advisory Group
In 2007, Assemblyman Juan Arambula lead, in conjunction with the Latino Caucus and in partnership with the California Hispanic Chambers of Commerce, an advisory group on how to attract more private investment to California's historically underserved capital markets, also known as emerging domestic markets. The purpose of the Advisory Committee is to create a more efficient financial ecosystem for emerging domestic markets. This will enable greater investment in emerging domestic markets by expediting deal flow and increasing access to information. Progress Report One, February 2008.
"Meeting 5 – January 22, 2008, Sacramento"
- Meeting Agenda [pdf]
- January 22 Progress Report on EDM Advisory Group [pdf]
- Update on Directory of Capital [pdf]
- Summary of EDM Investment Policies
- Summary of State Resources to assist EDMs [pdf]
- Summary of EDM Models using Financial and Community Intermediaries [pdf]
"Meeting 4 – January 11, 2008, Teleconference"
"Meeting 3 – November 7, 2007, Teleconference"
- Meeting Agenda [pdf]
- Summary of the October 30, 2007 Meeting [pdf]
- Outline for a Directory of Financial Resources for Entrepreneurs [pdf]
- Framework for the development of a hybrid EDM investment policy [pdf]
"Meeting 2 – October 30, 2007, Teleconference"
"Meeting 1 – October 11, 2007, San Diego"
- Meeting Agenda [pdf]
- Proposal for establishing the Emerging Domestic Market Advisory Group [pdf]
- Fast Facts on Emerging Domestic Markets [pdf]
- Chart on the Emerging Domestic Market Financial Ecosystem [pdf]
- Proposed Schedule for future Emerging Domestic Market Advisory Group Meetings [pdf]
- Information on State Catalog of Economic and Workforce Development Programs and Services [pdf]
- Members of the Emerging Domestic Market Advisory Committee [pdf]
Emerging Domestic Market Resources
Below are background materials that may be helpful in understanding the past, current, and future public and private investment opportunities in emerging domestic markets.
- Catalogue of California's Economic Development and Workforce Development Programs by JEDE [pdf]
- Diversity in the Management of Investments – CalSTRS Semi-Annual Report [pdf]
- Social Lending Today: Challenges Facing Finance Intermediaries [pdf]
- California's Economic Development Programs: Meeting the Challenges of Today's Economy by JEDE [pdf]
- California Environmental Goals and Policy Report [pdf]
- The CalPERS California Initiative in Review [pdf]
- Creating Capital, Jobs, and Wealth in EDMs by the Milken Institute [pdf]
- The Economic Impact of CalPERS investments in California [pdf]
- Federal Reserve Bank's Emerging Domestic Market Report [pdf]
- Freshfields Report: A legal framework for integration of environmental, social and corporate governance issues into institutional investing [pdf]
- The Importance of Data to EDM Investments by the Milken Institute [pdf]
- The Minority Business Challenge by the Milken Institute [pdf]
- Principles for Responsible Investment by UNEP FI [pdf]
- Sustainable Venture Capital by Eurosif [pdf]
Emerging Domestic Market Links
Below are several website that can provide additional information on emerging domestic markets.
• Center for Emerging Domestic Markets at Milken Institute: This site's mission is to serve as a clearing house for research on emerging domestic markets. Glenn Yago at the Milken Institute is credited with formally naming certain types of geographically and economically targeted investments as investment policy that focus on "emerging domestic markets." http://www.milkeninstitute.org/research/research.taf?cat=detail&ID=17
• Federal Reserve Bank, San Francisco: The Federal Reserve Bank recently issued its 2007 Community Development Investment Review, which exclusively focused on investments in emerging domestic markets. This excellent publication is available at this site, as well as, other related information. http://www.frbsf.org/publications/community/review/index.html
• Inner City Economic Forum: This site includes information on the Inner City Economic Forum (ICEF). The Forum believes that investing in inner cities is an economic imperative for the country's long-term prosperity. ICEF represents a diverse, national group of close to 300 leaders that is committed to developing a marketplace of ideas and transforming those ideas into action for the benefit of our country’s inner city residents and communities. http://www.innercityeconomicforum.com/sitemanager/vsmICEF/bin/smRenderFS.php?PHPSESSID=094125d6e407e36fb6ff5845b106f180&cerror
• Initiative for a Competitive Inner City: The Initiative for a Competitive Inner City (ICIC) is a national not-for-profit organization founded in 1994 by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector engagement that leads to jobs, income and wealth creation for local residents. ICIC brings together business and civic leaders to drive innovation and action, transform thinking and accelerate inner city business growth and investment. http://www.icic.org/vsm/bin/smRenderFS.php?PHPSESSID=76ed174cca2c3b8298b64a501c96cd15&cerror=
• New America Alliance: New America Alliance (NAA) is a 501(c)(6) organization of American Latino business leaders committed to leading the process of Latino empowerment and wealth-building by expanding the forms of capital most crucial for economic advancement, including economic capital, political capital, human capital, and philanthropy. http://www.naaonline.org/
• California Pension Fund Investment Conference: In September of 2007, CalPERS and CalSTRS joined by the two large Los Angeles-based public employee funds (LACERS and LACERA) to host a conference that focused on investment opportunities in real estate, housing for working families, infrastructure, as well as, private equity. The proceeding from the California Pension Fund Investment Conference are available at this website. http://www.calpers.ca.gov/index.jsp?bc=/investments/video-center/view-video/cpfi-conference/home.xml
• Expanding Investment Opportunities through Diversity Conference: In March of 2006, California Public Employees Retirement System and the California State Teachers Retirement System hosted an investment conference focusing on emerging managers and their connection to success in nations emerging domestic markets. This was the first investment conference on emerging managers of this scale. The proceedings from the "Expanding Investment Opportunities through Diversity Conference" is available at this site. http://www.calpers.ca.gov/index.jsp?bc=/investments/video-center/view-video/expanding-diversity/domestic-markets.xml