Why civil liberties matter for long-term capital

LBRTY® is not framed as charity. TOBAM’s stated motivation is risk-reward and financial performance. Civil liberties and democratic accountability affect property rights, policy predictability, and the left-tail risks that matter to long-horizon capital.

As democracy metrics deteriorate in some regions, ignoring regime risk becomes an active bet — often an unintentional one inherited from the benchmark.

This viewpoint summarises why LBRTY® integrates civil-liberty screens with stock-level exposure analysis for professional equity portfolios.