Painstaking Progress for Funds That Aim to Do Good – WSJ

DWS Group Inc., the asset-management business of Deutsche Bank AG, recently raised $843 million in a single day for a new fund that tries to invest in the best corporate citizens in the U.S. Source: Painstaking Progress for Funds That Aim to Do Good – WSJ

Why Proxy Votes are Important for ESG Investing | ThinkAdvisor

When investing client assets in ESG-focused funds, don’t just consider a fund’s investment strategy and holdings; look also at its proxy voting history and current votes on shareholder resolutions, now that the proxy voting season is underway. What you find may surprise you and/or your clients. According to a new report from Morningstar focused on…

Mutual funds start to put their mouth where their money is | Reuters

Corporate America’s biggest shareholders have traditionally been content with sharing their views on a company’s strategy privately with management. But now some mutual funds are beginning to rethink their stance, amid pressure from investors for them to justify the fees they charge and a push to boost the performance of their holdings. Wellington Management Company…

CalSTRS anchors Impactive’s responsible-investing hedge fund | ImpactAlpha

 The California State Teachers’ Retirement System is committing $250 million to Impactive Capital, a new activist hedge fund that will focus on responsible, long-term investing.Impactive was launched by Lauren Wolfe and Christian Asmar, who previously worked at Blue Harbour Group, a 15-year-old fund that built a reputation on being a collaborative activist fund. Impactive’s founders intend…

Wells Fargo CEO Tim Sloan Got 5% Pay Raise In Spite Of Scandals | Fortune

In spite of the scandals upon scandals that Wells Fargo dealt with last year—and continues to deal with—the bank submitted a security filing Wednesday which revealed that CEO Tim Sloan received a 5% pay raise between 2017 and 2018, totaling to an $18.4 million salary.Sloan’s compensation, which Reuters reports included a $2 million bonus for…

Jim McRitchie’s Draft Petition to the SEC on Disclosure of Proxy Votes

Jim McRitchie (jm@corpgov.net) is seeing comments on his draft rulemaking petition for real-time disclosure of proxy votes. Corporations have facilitated the most dynamic economic growth in history. Addressing adverse externalities, like dark money and climate change, has been hampered by dispersed ownership. Mechanisms are needed to define common values and increase individual empowerment within corporate dominated…

RBA’s climate change speech hints at radical policy shift

The supply shocks associated with climate change must force a radical rethink in the way central banks set monetary policy, shifting focus away from inflation onto nominal growth.That is the view of Warwick McKibbin, an economist at the Australian National University and former board member of the Reserve Bank of Australia, whose work on the…