US fund managers grapple with socially responsible investing
By Kristen Haunss
Asset managers are increasingly making sustainable investment decisions that reflect their own corporate values and those of their investors, but are still under pressure to deliver competitive returns as the market continues to develop and implement environmentally friendly principles. Many of the largest money managers including Neuberger Berman, BlackRock and PIMCO have dedicated environmental, social and governance (ESG) guidelines for their own investments, and are also balancing requests from their investors, including pension funds, endowment and family offices, to limit investments in industries including gun makers, fossil fuels and healthcare. …“It’s really complicated to establish moral principles for other people’s money,” said Karen Petrou, a co-founder of consulting firm Federal Financial Analytics. “Once you get past businesses that are clearly illegal—it gets a lot trickier in businesses and areas that are legal that you just don’t like.”