George Michael Gerstein speaks to Fund Intelligence about the DOL’s new leadership

Speaking to Fund Intelligence, George Michael Gerstein expressed skepticism that Eugene Scalia, the next Secretary of Labor, would have to recuse himself from rulemaking the DOL is expected to soon announce related to its vacated 2016 Fiduciary Rule. Gerstein also spoke about what he expects from the DOL over the coming months.

Waiting for the next (state) shoe to drop

Index providers and shareholder engagement

House committee advances ESG disclosure legislation; prospects of ultimately being signed into law seem remote

Scalia’s nomination to be next DOL secretary advances

Investment managers are using ESG factors more frequently

A recent Russell Investments and BNY Mellon Investment Management study indicates greater utilization of ESG factors in the decision-making processes of active managers, as reported by Pensions & Investments. Here are some of the highlights, as described in the article:

  • 55% of respondents (total=300) say they now use material ESG investment factors to be part of the decision-making. 36% of those cited the possibility of superior risk-adjusted returns as a basis;
  • Governance was the most important factor for 86% of respondents.
  • An increase of 48% of respondents say they always address ESG issues in their meetings with company management.
  • 82% utilize a formal investment policy to guide ESG decisions.