Ah, the illustrious world of finance, where logic meets chaos in a grand ballet of money and power! The venerable Dutch pension fund PME, boasting a robust treasure of $65 billion, has issued a rather alarming proclamation to the valiant captains of US finance. They beseech these esteemed money managers not to forsake their “basic principles of stewardship”āgoodness gracious, what a quaint notion!
As narrated by the ever-astute Bloomberg, the PME laments that US money managers stand on the precipice of peril, seemingly bowing to the caprices of President Trumpās administration. Oh dear! What a fickle friendship weāve forged with responsible investing, with the shadows of pressure looming overhead. Ah, what a tragicomedy indeed!
ā[US money managers] arenāt condemning what Trump is doing and how he is operating and how he is handling issues like climate change and demolishing the judiciary. We are worried about that,ā quoth Daan Spaargaren, PMEās sage senior strategist for responsible investing. Such grave concernsāone might think he has seen the ghost of investment principles past! š»
Indeed, the PME foresaw a grim future, cautioning Americaās investment industry of the dire ramifications of capitulating to Trumpās whims. They might just reconsider a hefty $5.7 billion mandate with the formidable BlackRock Inc., which, in an act worthy of a Shakespearean drama, has withdrawn from the noble Net Zero Asset Managers (NZAM) initiative. Ah, the cocktail of anticipation and dread! š„
Spaargaren further elucidatesāTrump seems to have taken up the curious hobby of attacking judges, thwarting the nationās noble efforts for cleaner energy, and tossing out diversity, equity, and inclusion policies as if they were discarded syllabi. How quaint!
ā[If asset managers] align their interests and their policies with the current administration in the US, then we are legitimizing also these steps and these practices by offering them our funds,ā he warns. A grim equation indeed, where aligning with a tempest might just mean losing the very principles that built the ship! š¢š¼
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2025-05-27 23:04