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...JPMorgan Asset Management and State Street Global Advisors both confirmed they were leaving Climate Action 100+....
...Troost had long claimed he had no management role in Paramount DMCC and that, as a separate legal entity incorporated in the UAE, its activities were not subject to western restrictions....
...Months later, he launched activist fund shop Strive Asset Management, promising it would use its shareholder clout to lobby against corporate ESG agendas....
...Catching US rivals such as BlackRock and Vanguard would require hugely bulking up its roughly $2tn of assets under management, a fraction of those peers....
...(Patrick Temple-West) INVESTOR ALLIANCES Asset owners up the ante Climate-focused investor alliances have had a difficult time of late, notably with the exit of major asset managers including State Street...
...There were a handful of companies that properly incorporated climate goals into bonuses, Galvanize said, citing French multinational Schneider Electric, for example, as a leader on this front....
...asset manager’s environmental, social and governance (ESG) investing....
...and wealth management....
...Shamaila Khan, head of fixed-income for emerging markets and Asia Pacific at UBS Asset Management agrees that “it is very natural, before elections, to have a little bit more spending”....
...Still, the recommendations can provide asset managers with cover to break with a company and support dissident board nominees. Additional reporting by Anna Nicolaou...
...Anyway, here’s the lowdown on asset management for this week. You’ll be back in Harriet’s capable (and tanned) hands next time....
...Management....
...But yesterday my colleague Brooke Masters and I broke the story that JPMorgan Asset Management had fallen out of love with the Climate Action 100+ and quit the group....
.... — Patrick Temple-West Sustainable investing Australian pension fund broadens investments amid uncertainty One of Australia’s largest pension funds is broadening its sustainable assets to include smaller-scale...
.... — Patrick Temple-West The Moral Money Summit Europe is returning to London on May 22-23....
...Read the full story here Chart of the week Liontrust was once a darling of the UK’s asset management industry, with chief executive John Ions presiding over an increase in assets from £1bn to £36bn in...
...BlackRock manages two of the five-largest US ESG funds, according to Morningstar, and has more than $48bn of ESG assets under management....
...Ahead of the companies’ annual general meetings this year, Oregon’s state treasurer has asked dissident investors’ board nominees not be “subjected to stricter standards than management nominees” at groups...
...He had acquired the assets via his Wyloo company last year....
...Active asset management will make greater strides than passive investment in a capex boom — particularly as the goal is to selectively invest in physical assets necessary to power the new economy as opposed...
...But good asset allocation practice is to avoid any “home bias” of investing too much in UK shares....
...Asset management sources told me this week that they expect the climate rule’s foes to fight all the way to the US Supreme Court....
...Nor did it file in Delaware, where most of its entities are incorporated....
...The management of the company are stealing all the money. And this is a company that was majority-owned by the state, owned by minority shareholders....
...Its business would include brokerage, proprietary trading, investment consulting, and securities asset management, the CSRC added....
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