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...“They are overriding our local decisions [and] demoting American leadership,” said one current senior US employee....
...JPMorgan Asset Management and State Street Global Advisors both confirmed they were leaving Climate Action 100+....
...More than half of BlackRock’s $10tn in assets under management are retirement savings, including institutional pension funds, corporate defined contribution plans known as 401(k)s and individual accounts...
...It’s amazing to think quite how recently private capital management was a pretty-much-nothing industry. Back in 2003, the entire sector’s AUM was less than $500bn....
...“That’s a sad commentary on the state of American politics. Now I know why they call this the political silly season.”...
...In the US, it and fellow index fund providers BlackRock and State Street have come under scrutiny from the left and right for the influence they wield by holding large stakes in most American public companies...
...American Express Global Business Travel has agreed to buy rival CWT for $570mn in a bet on the continued recovery of business travel....
...Other large firms that have refashioned mutual funds as ETFs include JPMorgan Asset Management and Fidelity. JPMorgan Asset Management launched its first ETF a decade ago....
...Coatue Management managing director Aaron Weiner is leaving the group to start a new hedge fund, Bloomberg reports....
...“They’re very hungry for American technology because . . . G42 are realigning themselves away from China and more with the US.”...
...Intel Q1, London Stock Exchange Group AGM and Q1 trading statement (revenues only), Merck & Co Q1, Microsoft Q3, Nestlé Q1 sales figures, Northrop Grumman Q1, Persimmon AGM and trading update, Porsche Q1, Royal...
...“We are going to have a ‘world is not flat’ moment, when asset managers are going to realise we are not prepared to help people draw down,” said Bill Meyer, CEO of Retiree Inc, a retirement planning software...
...During his decade leading Worldpay, the business was spun out of Royal Bank of Scotland by private equity firms before going public on the London Stock Exchange five years later....
...More and more Americans get their news from TikTok, and some say this gives it undue influence....
...“It’s been much better for sustainable funds than people thought on January 1,” says Mike Fox, a manager at Royal London. A big reason for this outperformance is the surge in tech stocks....
...The hedge fund manager getting all the attention, of course, is Nelson Peltz, the octogenarian co-founder of Trian Fund Management....
...But his eponymous company is now embroiled in a corporate fiasco unfolding on London’s junior stock market, involving a supplier of red carpets to the royal family, DD’s Rob Smith reports....
...However, as I have noted before, some 60 per cent of the group is actually owned by “international” investors, overwhelmingly American....
...It delivers about a quarter of American parcels. UPS trucks haul the equivalent of 6 per cent of the country’s gross domestic product....
...That’s a sad commentary on the state of American politics,” Fink wrote in a LinkedIn post on Thursday. “Now I know why they call this the political silly season.”...
...Fidelity includes Royal London Short Duration Global Index Linked Fund M Inc in its “Select 50” list of recommended investments, saying: “The loans are made over short periods (under five years usually)...
...Legal legacy Ira Millstein’s work led to a landmark shift in the centre of corporate power from company management to boards, the FT writes in an obituary of the lawyer....
...You’ll be treated to lots of Lee’s excellent journalism in forthcoming editions of this newsletter; for a taste of what to expect, check out her investigation for The American Prospect into safety conditions...
...The bigger picture is that Delaware chancery courts are there to make sure company boards and management are behaving appropriately....
...Sotheby’s can pay its agents more, Azar said, in part because he has torn up the traditional system of neighbourhood offices, giving his agents geographic freedom and cutting layers of management....
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