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When drama breaks out at the world s largest asset managers, big clients have to make tough choices.
A group of quiet but powerful advisors helps decide what to do when controversies arise.
Often they advise doing nothing but as calls for equity grow, there is more pressure to act.
If a fund manager winds up in the news for the wrong reasons, institutional investors must decide whether to stand pat, put the manager in a penalty box, or fire them altogether.
Behind the scenes, a quiet but hugely influential group often holds sway over how these investors who collectively control some $70 trillion in investable assets on behalf of retired teachers and firefighters, university endowments, charities, hospitals, and more react.