(Reuters) – BlackRock was issued a legal warning by the U.S. state of Mississippi over “false and misleading statements to Mississippi investors” tied to its environmental, social and governance (ESG) investment strategies, according to a 33-page document released on Wednesday. The Mississippi secretary of state Michael Watson and the state’s Securities Division issued a ‘summary
It’s campaign season, and not just for presidential candidates. It’s also proxy season, when shareholders get to vote on proposals to change policies at the companies they invest in. Mutual funds are no exception, and the world of closed-end funds is often home to some epic battles. Case in point: In dueling statements, Saba Capital
CALEXICO — Work has slowly resumed on parts of the New River Improvement Project after a six-week shutdown from storm damage and a raw sewage spill originating from Mexicali, and now the city of Calexico is hoping a $12.5 million state Budget Act allocation earmarked for the New River Parkway will apply to the ailing
Egypt, the Middle Eastern giant with a population of 114 million, is too big to fail, particularly at this moment. The United Arab Emirates, International Monetary Fund, and European Union forcefully underlined this point over the past week, pledging some $40 billion in investments and loans. President Abdel Fattah Al Sisi’s government responded with drama
A pair of activist investors have pulled their request for shareholder votes on climate-related proposals after ExxonMobil sued to keep them off the ballot at the company’s upcoming meeting. But while Arjuna Capital and the environmental group Follow This say they will not refile the proposals, Exxon still wants a U.S. court in Texas to
Investors yanked a record $13 billion from U.S. sustainable funds in 2023, stung by mediocre performance and the continuing backlash against environmental, social, and governance investing. Last year was the worst calendar year for outflows since Morningstar started keeping track more than a decade ago. Steep outflows from one passive iShares ESG fund accounted for
Optimism over artificial intelligence powered the stock market in 2023. It also helped some sustainable funds turn in a surprisingly strong performance. Based on data from Morningstar Direct, the top five sustainable U.S. equity mutual funds in Barron’s annual survey outperformed the S&P 500 index, returning an average 35% against a gain of 26%, including
Investing in nature to address climate change, support biodiversity, and protect ocean health—and more—is expected to reach record levels this year in response to more regulation and market demand, according to Cambridge Associates, a global investment firm. Still, the amount of private capital invested to support natural systems will fall far short of what’s needed,
Do well by doing good? Don’t count on it. Funds that invest using environmental, social, and governance, or ESG, criteria underperformed for a second consecutive year. According to data from Morningstar Direct, sustainable U.S. equity funds were up an average 21.6%, including dividends, through Dec. 31, trailing the S&P 500 total returns index by about
Walt Disney is caught in a contentious battle with multiple activist investors. Shareholders should come out ahead no matter who the winner is. Right now, there are no fewer than four activists taking aim at the House of Mouse. That should come as no surprise given that Disney stock has lost more than half its