‘Green shorting’ emerges as new phenomenon in State Street study
A recent study conducted by Boston-based State Street has found evidence of “green shorting”, a phenomenon in financial markets where investors borrow shares of companies with a weak sustainability profile and sell them in the hope they can buy them back cheaper when the price declines.
State Street Luxembourg embraces transformation
Investment services powerhouse State Street, leader in Luxembourg’s asset services market, is undergoing a transformation. The upcoming integration of Brown Brothers Harriman, data management, ESG requirements, digital asset management and the rollout of its upgraded Alpha business platform are on top of mind for country head Ricardo Lamanna. “We create an environment where we progressively shift from being an operational organisation in Luxembourg to being a client-facing organisation.”
Investor confidence recovers swiftly
State Street’s Global Investor Confidence Index increased to 94.3 points in June, more than 20 points higher than the low it reached at the height of the coronavirus crisis in April. European investors are most upbeat.
The confidence of European investors rose more than 11 points to 119.7, meaning the majority of investors on the continent are increasing their allocations to risky assets. Asian investor confidence moved backed to neutral, rising 18.6 points from its May reading.