Investment giant BlackRock Inc. is changing the name, investment objective and strategies of its $3 billion Money Market Portfolio to make the fund more environmentally sensitive.
Effective May 11, the fund will be labeled the BlackRock Wealth Liquid Environmentally Aware Fund. It will continue to invest in liquid, short-term instruments and aim for a high level of current income, but it will do so “while giving consideration to select environmental criteria,” the company said in a release.
“Under normal conditions, the fund will invest at least 80% of the value of its net assets, plus the amount of any borrowings for investment purposes, in securities whose issuer or guarantor, in the opinion of BlackRock, at the time of purchase, meets the fund’s environmental criteria,” the company said.
[More: How to spot greenwashing]
BlackRock is looking for issuers who have “better than average” performance in environmental practice. In evaluating their environmental practices, BlackRock said it will use data or other environmental, social, or governance risk metrics, including ratings provided by independent research vendors.
Christopher Blotto moved this month to Janney Montgomery Scott.
Finturk also added new form-filling and cash sweep tools to its AI-first CRM platform, while Zeplyn builds advisor coaching into its own AI operating system
“Ultimately, you just try to embrace collaboration,” said Greg Merrill of UBS.
Building on its Personal Office platform, NorthRock Partners' latest transaction brings more than $200 million in assets under management and five employees to the growing RIA.
Expanded deal pairs succession-planning software with a broker-dealer network already logging rapid AI adoption among 11,000 advisors.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
