Gerstein Fisher was founded in 1993 as an investment management and advisory firm. The goal of this project is to expand Gerstein Fisher’s understanding of how Impact Investing works with quantitatively-managed active global equity portfolios.  In particular, the Capstone team will compare traditional factor-based portfolios with portfolios that are managed with various degrees of awareness of Impact Investing signals.  The key question is a perennial one in Impact Investing: are there tradeoffs associated with incorporating Impact goals or restrictions?  As part of the project, the team will prepare a literature review of academic and practitioner research on this question in global active equity portfolios. Further, the research done in this Capstone project has the potential to influence the firm’s investment offerings.