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News, Vision & Voice for the Advisory Community
Cerulli is the latest to question RIAs for not fully understanding ESG as an emerging megatrend, which could lead to a potential disconnect with Next Gen investors. Comments
RIAs are failing clients, society and their future viability as advisors by almost universally neglecting environmental, social and governance (ESG) investing, according to a scathing new report. There will be a future where all investments are going to be judged through the lens of sustainability . I’ve been very loud at what I’m saying, and I’m going to be loud again, said BlackRock chairman and CEO Larry Fink, in a Bloomberg Green Summit interview, Apr. 27.
CALGARY Parks Canada delayed opening camping reservations this year because of the COVID-19 pandemic, but thousands of Canadians are crying foul after the system went offline with technical issues. Officials with the agency say the reservation system is experiencing very high demand and has led to technical difficulties. We are actively investigating the problem and working to fix the issue, Parks Canada wrote on Facebook Friday. Thank you for your patience. We apologize for the inconvenience. The apology didn t provide much solace for anyone waiting in the queue for reservations, which some reports indicate have approximately 24,000 people waiting to book backcountry sites.
Fund growth
In terms of investment vehicles, some of the most significant inflows (combining both institutional and retail dollars) have gone into exchange-traded funds, community investment institutions and alternative investment vehicles over the past two years, growing by 200%, 44% and 22%, respectively, according to Chris Phalen, research manager at the Forum for Sustainable and Responsible Investment.
The numbers behind the percentages are striking. According to a Morningstar report, sustainable funds in the United States attracted new assets at a record pace in 2019. Estimated net flows into open-end and exchange-traded sustainable funds that are available to U.S. investors totaled $21.4 billion for the year, the report continued. That s nearly four times the previous annual record for net flows set in 2018. View the Morningstar chart below to see the trend graphically.