David Chaplin

The ESG backsliding in the US continues apace with Northern Trust Asset Management joining the recent mass exodus of financial institutions from climate-related pacts. Northern Trust is one of the latest to abandon the, now-paused, Net Zero Asset Management (NZAM) initiative as well as another climate change investment industry body. NZAM went on hiatus this… [Read More…]

Sustainable-labelled funds in the US saw net outflows worsen in 2024 even as traditional peers enjoyed boom times, according to a new Sustainalytics report. The Morningstar environmental, social and governance (ESG) research subsidiary found US sustainable fund net outflows increased to US$19.6 billion last year from US$13.3 billion in 2023. “By contrast, investors poured about… [Read More…]

PIMCO is tipping bonds to outperform equities over the next five years, citing historical precedents for a fixed income resurgence in a recent investor note. “Looking back at bond and equity markets on average since 1973, during similar periods when U.S. core bonds are yielding around 5% or greater while U.S. equities’ earnings ratios are… [Read More…]

Former Tower boss, Blair Turnbull, has emerged as the new chief executive for Milford Asset Management, replacing incumbent, Mark Ryland. Turnbull resigned from Tower last November following a three-year stint with the insurer due to formally finish on February 12. Meanwhile, Ryland will vacate the $22 billion plus boutique on March 12 after handing in… [Read More…]

Annuitas is on the lookout for a new chief investment officer after incumbent, Anthony Halls, handed in his notice. Halls is due to finish a less than two-year shift at the government pension fund management shop on March 31. He joined Annuitas in July 2023 following a year-long hiatus from the industry to replace long-time… [Read More…]

Become Wealth is reviewing its investment approach as the boutique advisory firm just passed the $1 billion threshold for funds under advice (FUA). The review will cover both broad product recommendations and Become’s $100 million plus discretionary investment management service (DIMS) “including portfolio construction”, according to a spokesperson. Become, which has a cornerstone contract to… [Read More…]

BlackRock has shrugged off a series of ‘anti-woke’ political assaults in its home country to serve up another bumper profit and record assets under management during the final quarter of 2024. The global investment behemoth reported profits of US$1.6 billion over the three months to December 31, about on par with the previous quarterly results,… [Read More…]

The Net Zero Asset Managers (NZAM) global collective has halted operations just one week after BlackRock resigned the voluntary organisation. In a statement, NZAM says it had suspended “activities to track signatory implementation and reporting” while a formal review process takes place. “NZAM will also remove the commitment statement and list of NZAM signatories from… [Read More…]

The fund back-office provider formerly known as Link Market Services has struck a deal with the IT consultancy arm of giant Indian conglomerate, Tata, to upgrade its client offerings – at some point – and possibly spark an administration ‘revolution’. Under a memorandum of understanding signed last week, MUFG Pension & Market Services will work… [Read More…]

Salt Funds Management is tilting offshore exposures away from equities and towards fixed income in its global funds as financial and geopolitical conditions point to a “choppy” year ahead. The Salt Global Outlook published last week notes that as “positive tailwinds fade” for growth assets there were emerging opportunities for “select” income assets. Greg Fleming,… [Read More…]