Hints and tips:
...Advisers have a fiduciary duty to put client interests first at all times. Brokers must recommend products that are in a client’s best interest, but they do not have ongoing responsibilities....
...When pressed on the issue, asset managers in the US now emphasise that they are service providers....
...Bob Campion, senior portfolio manager with Charles Stanley Fiduciary Management, an adviser in LDI funds, said it was “reviewing all our managers . . . as part of our standard rigorous due diligence process...
...“We need to ensure that the money is not being used to drive a separate agenda different from our fiduciary obligation,” he added....
...In a report on Thursday, Institutional Shareholder Services said that Peltz “could be additive to the succession process” once Disney chief executive Bob Iger steps down....
...For institutional investors with a fiduciary duty to invest in the best interests of our clients, dual-class share structures significantly dilute our ability to exercise our obligations....
...The divestment campaign foundered in Kentucky, where pension officials said moving billions of dollars out of BlackRock and other firms that use ESG factors would violate their fiduciary duty to maximise...
...“The decision demonstrates that Delaware’s historic role in overseeing the exercise of fiduciary duties is alive and well — perhaps better than it has been in some time”....
...Pilot, which also operates the Flying J brand, sells fuel, food and merchandise to truckers and provides showers among other services....
...“They feel they have inherited the fiduciary duty on behalf of the fund investors, so they are continuing to try to reclaim the money,” said a person with knowledge of UBS’s approach to the case....
...In a recent note, Houchois at Jefferies criticised Musk’s “cavalier attitude towards governance and fiduciary duties”, a record of “misallocating his own capital” and “questionable strategic and product...
...“Private equity and hedge funds have a fiduciary responsibility to hire consultants and show that they’ve conducted due diligence....
...We believe that the transaction with Rithm substantially undervalues the Company and penalizes all shareholders for the Board of Director’s breaches of fiduciary duty and the lack of proper oversight that...
...Fink also boasted that BlackRock is the highest-performing financial services stock in the S&P 500 since its 1999 float, delivering total returns of 7,700 per cent....
...Woke Inc is under attack. Battle lines have been drawn in America’s latest culture war, with Ron DeSantis, Florida’s governor, its general....
...green infrastructure investment firm became a public benefit corporation in 2021, the legal team has overseen the transition to ensure the business is answering to all stakeholders — to which it now has a fiduciary...
...Bluebell’s letter called voting choice “a clear sign of BlackRock’s capitulation of its obligation to exercise its fiduciary duties and little more than a cute commercial tool”....
...Voting is considered an essential part of an asset manager’s fiduciary duty, so they sprung up to handle all the dull proxy work....
...But squaring that with its fiduciary duties at a time of resurgent oil prices is tough to do. Energy companies are the top performers on the S&P 500 this year....
...“BlackRock’s role in the transition is as a fiduciary to our clients — it is not to engineer a specific decarbonisation outcome in the real economy,” BlackRock wrote in its response....
...Nineteen state attorneys-general, all of them Republicans, sent a letter to BlackRock last month accusing it of prioritising “activism” over fiduciary duty to their state pension funds....
...State pension funds will then have to notify the comptroller of their holdings, but the law gives them some flexibility on selling out if it affects their fiduciary duty to retirees....
...In its lawsuit, Cygnus alleges that “SVP took advantage of the Covid crisis to force and control a rushed bankruptcy process to take WPG Inc private”....
...Fiduciary responsibility An $800mn lawsuit by Georgian billionaire Bidzina Ivanishvili against a trust owned by Credit Suisse could prompt international banks, who oversee trust firms catering to ultra-wealthy...
...Dimensional also has lower fees for its ETFs than its comparable mutual funds — a common scenario, reflecting the lower cost of running an ETF — and advisers’ fiduciary duty “is to go into the lowest-cost...
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