The $65 billion Dutch pension fund PME is reportedly warning US money managers not to abandon their “basic principles of stewardship” during the Trump era.
According to a new Bloomberg report, PME says US money managers are allegedly risking significant business by “caving into pressures” from President Donald Trump’s administration by abandoning basic principles of responsible investing.
Says Daan Spaargaren, PME’s senior strategist for responsible investing,
“[US money managers] aren’t condemning what Trump is doing and how he is operating and how he is handling issues like climate change and demolishing the judiciary. We are worried about that.”
The PME warns America’s investment industry that a Trump capitulation is prompting it to think twice about its US investments.
The PME is reconsidering its $5.7 billion mandate with BlackRock Inc., after the world’s largest asset manager withdrew from the Net Zero Asset Managers (NZAM) initiative. A decision from PME is expected within weeks.
Spaargaren says Trump’s actions that are raising concerns include attacking judges, countering America’s move to cleaner energies and the removal of diversity, equity and inclusion (DEI) policies.
“[If asset managers] align their interests and their policies with the current administration in the US, then we are legitimizing also these steps and these practices by offering them our funds.”
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The post $65,000,000,000 Pension Fund Issues Warning to US Money Managers, Says Industry Abandoning ‘Basic Principles of Stewardship’: Report appeared first on The Daily Hodl.
The $65 billion Dutch pension fund PME is reportedly warning US money managers not to abandon their “basic principles of stewardship” during the Trump era. According to a new Bloomberg report, PME says US money managers are allegedly risking significant business by “caving into pressures” from President Donald Trump’s administration by abandoning basic principles of
The post $65,000,000,000 Pension Fund Issues Warning to US Money Managers, Says Industry Abandoning ‘Basic Principles of Stewardship’: Report appeared first on The Daily Hodl. Financeflux, macro, money markets, News
This articles is written by : Nermeen Nabil Khear Abdelmalak
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