Reported about 9 hours ago
BlackRock has responded to pressures from both U.S. Republican and Democratic officials, stating that the politicization of pension fund management undermines its fiduciary duties to clients. In a memo directed at 43 state officials, the company emphasized that concerns from both parties about its focus on climate change represent a troubling trend of political influence in managing retirement assets. BlackRock, which oversees $12.5 trillion, aims to act as an engaged shareholder but not as an activist investor, asserting that political constraints can harm pension fund performance.
Source: YAHOO