By David Callaway, Callaway Climate Insights
(David Callaway is founder and Editor-in-Chief of Callaway Climate Insights. He is the former president of the World Editors Forum, Editor-in-Chief of USA Today and MarketWatch, and CEO of TheStreet Inc.)
SAN FRANCISCO (Callaway Climate Insights) — In the 48 hours before Christmas just two weeks ago, one of Europe’s most well-known pension funds quietly pulled its assets out of what had been the second-largest sustainable emerging markets fund.
So quietly that the business media wasn’t on to the story for almost a week, but not quietly enough to muffle a key lesson for investors in certain sustainable funds.
The BlackRock iShares ESG MSCI EM Leaders ETF (LDEM) had launched with much fanfare in early 2020, just before Covid hit, including a $600 million launch investment from Ilmarinen Mutual Pension Insurance, Finland’s oldest pension fund company. By the time Ilmarinen pulled the plug on its investment, the fund’s assets had grown to more than $800 million, through performance and other fund purchases by investors. . . .
To read this column, all our insights, news and in-depth interviews, please subscribe and support our great climate finance journalism.
Callaway Climate Insights Newsletter
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
