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BNN Bloomberg: Bluebell Capital Partners is calling on BlackRock Inc. to replace Chief Executive Officer Larry Fink over what it says are his failures to move the world’s largest money manager beyond investments in fossil fuels.
BNN Bloomberg: Republicans in the US Senate are amping up efforts to rein in BlackRock Inc., State Street Corp. and Vanguard Group Inc. on environmental, social and governance issues — a preview of a fight looming when the GOP takes control of the House next month.
BNN Bloomberg: The asset management units of Deutsche Bank AG and BNP Paribas SA are adding to a tidal wave of ESG fund downgrades, bringing industry assets under management to have been hit by such reclassifications to well over $100 billion.
U.S. News: Florida's chief financial officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc, the biggest such divestment by a state opposed to the asset manager's environmental, social and corporate governance (ESG) policies.
Yahoo Finance: Republicans are pressing to get rid of it, regulators are cracking down on the misselling of ESG-labeled funds and bonds, and sustainable investing purists want to eliminate the acronym altogether. It’s also become less of a talking point for corporate executives.
ESG Clarity: After talks at COP27 barely kept the 1.5 warming limit alive and ended with reiterated calls to accelerate climate action, we take stock of the ever-expanding options available to investors looking to reduce climate-related risks in their portfolios and/or take advantage of opportunities arising from the transition.
Forbes: Environmental, social and governance (ESG) issues have become a significant focus across the financial markets. However, much of the commentary and focus have been on ESG in the public markets. In reality, ESG is just as much of a focus in the private markets as well.
Fitch Ratings: A spate of high-profile regulatory findings against how asset managers operate ESG funds and present them to clients highlights the regulatory risk associated with such funds, Fitch Ratings says. Last week, Goldman Sachs agreed a USD4 million settlement with the SEC over charges against the bank’s asset-management division for failures in ESG investment policies and procedures.
Forbes: With so much volatility in the markets, investors have been left with virtually nowhere to hide, but hedge funds have demonstrated how they can protect capital during periods of upheaval. The Eurekahedge Hedge Fund Index is down 5% year to date through October, compared to the S&P 500's decline of 17%.
Wealth Professional: Three quarters of institutional investors feel that their alternative asset managers have met or exceeded performance expectations during a challenging and volatile market period.
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