Asset Managers

The crusade against “woke capitalism” is entering a new phase in the United States now that Republican politicians turn against ESG policies in asset management. Jan van Eck, chief executive of the global ETF boutique carrying his name, this interference is fully justified, regardless of where one stands on ESG and sustainability investments.

Responsible investment policies at two thirds of the world’s major asset managers, representing some 60 trillion dollars in assets under management, fall short of their objectives, leaving the firms with “serious gaps” in their practices, according to a report published by British NGO Shareaction.

Australian financial giant Macquarie is considering a bid worth more than 5 billion pounds (5.6 billion euro) for UK-headquartered fund manager and insurer M&G, which runs its non-UK European business from Luxembourg.

Luxembourg’s leading financial sector associations, together with the supervisory authorities and the government, are about to launch a public campaign that seeks to elucidate the general public in the grand duchy on sustainable finance. 

In particular, the campaign aims to make clear that sustainable investing is more than just environmental ‘green finance’ and that ESG investing also relates to social issues and the governance of companies.

Even after 40 percent of the EU’s most sustainable fund assets was downgraded during the fourth quarter, managers of investment funds with an outspoken sustainability profile are still not sure whether their funds meet the requirements for ESG investments under the EU’s Sustainable Finance Disclosure Regulation.

Further downgrades are expected during the coming months.

Marion Le Morhedec is global head of fixed income at AXA Investment Management. For this edition of IO’s Portfolio Update podcast she spoke with Investment Officer’s Max Severijns.

Third-party assets in ABN Amro Investment Solutions’ funds and mandate solutions have been rising since October 2020, with 30 percent of assets under management now coming from clients other than ABN Amro. Meanwhile, the fund house is focusing on its latest solutions services.

Denis Panel has been appointed as the new chief executive officer of Sycomore Asset Management, a unit of Generali Investments, the firm announced on Tuesday.

Candriam Group, a New York Life investments company, said it has agreed to buy a majority-stake in pan-European real estate investment manager Tristan Capital Partners. Financial details were not disclosed.

Candriam already owns 31 percent of Tristan, With the new agreement its stake will increase to 80 percent by the middle of this year. The remaining 20 percent of Tristan will continue to be held by its senior team. 

Pictet Asset Management has announced the launch of Pictet-ReGeneration, a Luxembourg-domiciled concentrated global equity fund investing in companies aiding the transition to a regenerative economy. The fund is the latest addition to Pictet AM’s Thematic franchise, which now has a combined assets under management of some 62 billion dollars.