Vanguard, BlackRock join investors pledging to hit net zero
Alastair Marsh, Bloomberg News VIDEO SIGN OUT
The worldâs largest asset managers have joined a group of investors committing to cut the net greenhouse-gas emissions of their portfolios to zero.
BlackRock Inc. and Vanguard Group Inc. are among 43 investment firms managing more thanâ¯US$22.8 trillion of assets that are joining the Net Zero Asset Managers initiative, according to a statement Monday. By signing up, the money managers are pledging to support efforts to limit global warming to 1.5 degrees Celsius by targeting net-zero emissions by 2050 across all their holdings. They also will set a public goal for the proportion of their assets that in 2030 will be on course for net zero.
‘Bullied and harassed’: AMP shareholders urged to confront adviser woes
‘Bullied and harassed’: AMP shareholders urged to confront adviser woes
Advisers have implored the wealth giant’s largest shareholders to ask some “serious questions” about their fate at the company’s upcoming annual meeting.
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An open letter to certain AMP shareholders has accused the group of “systemic bullying and harassment”, asking investors to hold the company accountable.
It has outlined details around the banking royal commission, the changes to the buyer of last resort (BOLR) valuation method and the consequent class action filed by advisers against AMP.
“We are [a] group of AMP planners who were terminated without cause, had our businesses stolen, our futures jeopardised, our families ruined and our health destroyed,” the letter stated.
BlackRock Latin American Investment Trust Plc - Holding(s) in Company
PR Newswire
(LEI: UK9OG5Q0CYUDFGRX4151)
NOTIFICATION OF MAJOR HOLDINGS
i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached
ii
BlackRock Latin American Investment Trust
1b. Please indicate if the issuer is a non-UK issuer (please mark with an X if appropriate)
2. Reason for the notification (please mark the appropriate box or boxes with an X )
An acquisition or disposal of voting rights
x
An event changing the breakdown of voting rights
Other (please specify)
3. Details of person subject to the notification obligation
Rising interest rates this winter spooked EM stocks, which still significantly lag behind others.
Things are looking up for emerging markets (EM) and their stocks, after a brief spate of pessimism due to rising Treasury yields this winter. Lazard Asset Management thinks that faster overall global growth, modestly rising interest rates, and a rebound in commodities prices will keep their recovery on track.
“Our outlook for emerging markets equities overall remains positive in anticipation of a stronger rebound in global growth over 2021,” the firm’s analysts wrote in a research report.
But there are headwinds to overcome. Optimism about heady US economic growth this year has drawn capital out of emerging markets, forcing some developing countries like Brazil to raise interest rates despite lingering economic weakness.
West Palm Beach Police picks up Lazard, PGIM Fixed Income
West Palm Beach Police picks up Lazard, PGIM Fixed Income
PGIM Fixed Income to run $10 million each in active emerging markets debt.
The $451 million pension fund s board approved the hirings at its April 9 meeting, confirmed John McCann, senior consultant at AndCo Consulting, the pension fund s investment consultant.
Both managers run blended currency portfolios, Mr. McCann said.
Funding comes from a reduction in the portfolio of the pension fund s sole fixed income manager Garcia Hamilton & Associates, leaving it with about $67 million.
AndCo Consulting assisted.