Institutional Investor: A woman accused Kevin Ulrich — head of hedge fund firm Anchorage Capital Group and board chairman of movie studio MGM Holdings — of sexually assaulting her in New York’s Mercer Hotel, but then discontinued the suit, legal filings show.
Yahoo Finance: Progressive groups and investors hope Democratic presidential nominee Joe Biden can win on Tuesday and quickly end Trump administration rules that stifle their ability to pick stocks using environmental, social or governance factors, setting up a renewed fight with corporate groups that backed the changes.
Institutional Investor: Sustainable funds are attracting record inflows this year, as allocators increasingly emphasize environmental, social, and governance criteria.
Bloomberg: A new coalition of institutional investors and advisers overseeing more than $3 trillion in assets is pushing U.S. public companies to disclose the racial makeup of their boards in a bid to increase the diversity of corporate directors. [Full article available to Bloomberg subscribers.]
Bloomberg: Despite widespread objections from the money management industry, President Donald Trump, through the U.S. Department of Labor led by Eugene Scalia, is speeding ahead with a proposal to make it more difficult for fiduciaries of retirement plans to direct money to ESG-focused funds. [Full article available to Bloomberg subscribers.]
Pensions & Investments: The pressure on U.S. financial regulators to address climate risk is growing as investors and regulators overseas — and others at the state level — continue to forge ahead. [Full article available to Pensions & Investments subscribers.]
Financial Times: Which sectors of the market would flourish during a Biden presidency? That is a big question for investors right now, as Democrat Joe Biden rides high in the US polls – and his party makes bold statements about fiscal policy, unions and fossil fuels. [Full article available to Financial Times subscribers.]
Institutional Investor: While the pandemic hasn’t damped investor demand for ESG, asset flows to U.S. active managers fell in the first half of 2020, according to Broadridge.
Pensions & Investments: California pension funds and policymakers have a road map for integrating climate change risk and other ESG considerations into their investment decisions, thanks to a partnership between the U.N.-supported Principles for Responsible Investment and UC Berkeley Law's Center for Law, Energy & the Environment. [Full article available to Pensions & Investments subscribers.]
Bloomberg: More than thirty of the largest U.S. companies have agreed to new disclosures of previously private race, gender and ethnicity workforce data as part of a push by the New York City comptroller and three city retirement funds.
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