Schroders Plc said it has a way to score sovereign debt that corrects for the rich-world biases inherent in ESG investing. Emerging economies start off at a significant disadvantage, the asset manager says, because they tend to rely on coal or other fossil fuels, they’re disproportionately vulnerable to climate change, and they...
For years, the Harvard College China Forum brought business moguls en masse to the university’s oak-paneled rooms, including Alibaba Group Holding Ltd. founder Jack Ma, Xiaomi Corp.’s Lei Jun, Blackstone Inc.’s Stephen Schwarzman and Bridgewater Associates LP’s Ray Dalio. There at the invitation of students, some of whom also happen to be the children...
BlackRock Inc. and other money managers spent years rolling out sustainable funds, seeking to capitalize on surging interest in ESG investing. Now they’re abandoning an increasing number of those products in the U.S. amid political backlash and investor scrutiny. State Street Corp., Columbia Threadneedle Investments, Janus Henderson Group and Hartford...
JPMorgan Chase & Co. Chief Executive Jamie Dimon said the Federal Reserve may have to keep increasing its benchmark interest rate in the coming months to combat persistent inflation. The central bank was “a day late and a dollar short” in beginning to raise rates and the rapid increases over...
Bond traders are bracing for Treasury yields to keep pushing higher after the Federal Reserve signaled it’s likely to hold interest rates at lofty levels well into next year. Fifty-eight percent of the 172 respondents in the Bloomberg Markets Live Pulse survey conducted after the Fed’s decision said that 2-year Treasury yields...
An influential group of institutional investors has called on governments to remove policy barriers to help unleash an estimated $275 trillion in new clean energy investments over the next three decades. The Net-Zero Asset Owner Alliance, whose members oversee $11 trillion of assets and include Allianz SE, Axa and the California Public Employees’ Retirement System, said governments need to...
Private credit is going through a golden era, according to its fans, but a handful of asset managers are refusing to be dazzled by the biggest part of the booming $1.5 trillion market: direct lending. Swiss Life’s investment arm and Scotland’s Baillie Gifford are avoiding the direct-lending craze in part because of...
One of last year’s hottest quant trades is getting a reboot, even as it misfires in the world’s largest stock market. So-called value shares — which trade at lower multiples relative to fundamentals — are all the rage again but this time in Asia and, more recently, Europe. Investors are essentially...
The Federal Reserve left its benchmark interest rate unchanged while signaling borrowing costs will likely stay higher for longer after one more hike this year. The central bank’s policy-setting Federal Open Market Committee, in a post-meeting statement released Wednesday, repeated language saying officials will determine the “extent of additional policy...
Markets may be underestimating the risks of both a US recession and one more interest-rate hike from the Federal Reserve, making haven assets a preferred play, according to Pacific Investment Management Co. There’s “still a fairly elevated chance of another hike before the year end,” Geraldine Sundstrom, a money manager...