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UBS, State Street among firms whose green funds fall short
More than half the climate-themed funds reviewed by a nonprofit failed to live up to the climate goals set out in the Paris Agreement, while just over 70% of funds promising ESG goals fell short.
BlackRock, Wells Fargo delay return to office on Covid concerns
The shifts signal that the financial services industry is rethinking its return-to-office plans as the highly contagious delta variant sweeps across the country.
BlackRock voted against 255 directors because of climate issues
According to its stewardship report, the asset manager supported 35% of 843 shareholder proposals that it voted on in the recent proxy season, compared with 17% in the previous year.
Wall Street surrenders to $500M ETF rush
Now even the most storied money managers are launching exchange-traded funds in a bid to stay relevant, and some — like Vanguard Group — are handling their clients’ conversions for them.
BlackRock ETFs see massive inflows hinting at tax avoidance
Five exchange-traded funds took in about $13.5 billion amid the rebalancing of the FTSE Russell indexes, suggesting heartbeat trades designed to defer taxes faced by fund investors.
Bob Doll joins Crossmark as chief investment officer
The veteran market strategist will lead the faith-based firm’s investment team and will be responsible for growing its investment offerings, specifically focusing on several new actively managed products.
BlackRock has record ETF launch with carbon transition fund
Investors plowed $1.25 billion into the BlackRock U.S. Carbon Transition Readiness ETF Thursday, making it the biggest launch in the ETF industry’s three-decade history.
BlackRock plans racial audit, in break with Wall Street peers
The asset manager will undergo a third-party audit of its operations following a request from a shareholder.
Vanguard, BlackRock join investors pledging to hit net zero
The two asset management giants were among 43 firms with more than $22.8 trillion of assets that signed onto the Net Zero Asset Managers initiative.
BlackRock settles 401(k) lawsuit for nearly $10 million
Plaintiffs sued BlackRock Institutional Trust Co. in 2017, alleging that the firm engaged in self-dealing and breached its fiduciary duty by including numerous in-house products on the plan menu.
State Street cuts ETF fees, ramping up race to zero
The company's announcement that it was slashing fees on two of its bond funds came just a day after BlackRock lowered fees on its lineup of style ETFs.
BlackRock slashes fees on style ETFs to near zero
The world’s biggest ETF issuer is cutting the expense ratios on nine iShares Morningstar U.S. Equity Style Box ETFs to a range of 0.03% to 0.06% — down from previous charges between 0.25% and 0.30%.
Climate activist takes aim at Vanguard
The campaigner who was instrumental in pushing BlackRock to act against climate change is now taking aim at Vanguard Group.
MoneyLion to go public via blank-check merger in $2.9 billion deal
MoneyLion manages about $20.65 million in assets and offers mobile banking, automated investing and personal financial management tools
BlackRock allows crypto exposure in two funds
The fund manager added Bitcoin futures as an eligible investment for two of its funds, according to SEC filings.
Target-date fund 2020 sales in red as CITs rose, older workers fled: Report
Overall, the retirement savings products bled $6.7 billion, marking the first such instance of negative net sales since Morningstar began tracking them in 1994, the ratings and research firm reported this week.
BlackRock taps fintech startup to bolster ESG investing
The asset manager will integrate Clarity AI’s data into the Aladdin tool as social and economic factors push investor appetite for ESG investing. Demand for sustainable investing accelerated last year with global investors in mutual funds and ETFs investing $326 billion in sustainable assets.
Wealthy families want more hedge funds: BlackRock
A survey of family offices shows more than a third plan to boost allocations to such funds
Biggest ETF issuers struggle to make mark in 2020 launches
Only three of the most popular ETF launches last year were BlackRock products, and none were from Vanguard or State Street
Vanguard wins ETF flow war as State Street loses ground
Vanguard is on track to beat BlackRock in attracting ETF flows for the first time since 2013
