Tag: Active Management
“Most of that’s all bullshit,” says Bill Gates. Let me set the stage. In my view, ESG (Environment, Social, and Governance) funds are a marketing ploy by financial services firms to repackage actively managed investments – which were becoming increasingly less appealing – in a trendy wrapper. They’re expensive and accomplish nothing. And they divert…
The financial services industry seems exercised about the Department of Labor’s proposed rule limiting ESG investing for private pension plans covered by the Employee Retirement Income Security Act of 1974 (ERISA). The DOL states: “It is unlawful for a fiduciary to sacrifice return or accept additional risk to promote a public policy, political, or…
