Some impact investors are creating confusion in the field in that their primary fo­cus is on doing good and then doing well, while others believe there is an opportunity to do well by doing good, a report from Commonfund suggests. The report, Impact Investing: Balancing the Best of Responsibility and Opportunity (12 pages, PDF), presents highlights from a roundtable discussion among four investment managers about impact investing strategies, including helping companies to see corporate social responsibility less as a "responsibility" and more as an "opportunity." In one model, securities in a fixed-income portfolio are assigned a rating for credit quality and risk as well as a sustainability rating, while in another the concept of "profit and sustainability" rather than "profit or sustainability" is emphasized.