Sustainable investing (or impact investing) is arguably the hottest topic in global finance. Morningstar reports that ESG-oriented mutual funds’ net capital inflows quadrupled in 2019 to $20 billion, and signatories to the Principles for Responsible Investments (PRI) had $86 trillion assets under management (AuM) in the same year. However, the economics of sustainable investing are contentious… Read More »
“Lessons from COVID-19: Liquidity Risk Management is Central to Open-Ended Funds.” —BlackRock (2020) “Liquidity risk management programs (LRMPs) will be a focus area for the Division.” —SEC (2021) Mutual fund liquidity management has become increasingly important since the financial crisis of 2007–2009, during which regulators and practitioners raised concerns about whether mutual fund portfolios had… Read More »
Since 2004, when the term “ESG” was first used in a report published by the United Nations Global Compact, there has been an explosion of interest in the concept, including in corporate boardrooms. The Global Compact, in a follow-up report the next year, described the emergence of ESG corporate policies as a “powerful and historic convergence … between the objectives… Read More »
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